Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 4 B0 o3 h* I9 t 6 @6 C! ] H8 Q2 \0 W7 X! M% G1. Deal must close by August 28th 2009 8 _/ S4 `# Z+ ?2 a; z6 k9 F2. New Deals Only, No pre-approvals. 1 U2 r; k! J7 N3. Switches and transfers are not permitted. ! s* Z0 h, c7 g8 o7 O4. 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 # y1 N- p% m" G Y# [
5. Available on both conventional and high ratio (CMHC). 9 P" w; ]2 R% v8 n ^6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ' n# @( K$ q! u+ ~7. Minimum amortization is 15 years.