Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:4 [; F( t) P2 i1 d9 `6 T* }) f$ w
. b5 v" m9 L x/ K# `1. Deal must close by August 28th 2009 + y/ X9 f) M0 O: O$ h r- n# @' s2. New Deals Only, No pre-approvals. 1 j( h- _9 C1 o$ `+ V3. Switches and transfers are not permitted. . S8 a5 N5 ^! D" K5 Z! }$ z- x$ [1 x4. The 18-month term is convertible at any time with no penalty to a 5 year fixed rate mortgage, at published rates available at time of conversion ' O2 |) i; ~6 k0 n' p/ v3 |' h5. Available on both conventional and high ratio (CMHC). 9 \# P# p! B' r i
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. * j/ @* W( x/ k( v( M8 I( N7 g7. Minimum amortization is 15 years.