Not sure whether you want to take the full risk of selecting a variable rate mortgage in Toronto with an imminent rise in the prime rate on the horrizon over the next 24 months? Why not consider an innovative product offered by Canadian mortgage lender Merix Financial. The 50/50 mortgage.
The Merix 50/50 Wise Mortgage is a mortgage that lets borrowers take advantage of a low fixed rate and low variable rate all in one mortgage. 50% of the mortgage is in a 5 year fixed rate and 50% of the mortgage is in a 5 year Variable rate. So based on today’s numbers the mortgage would look like this:
-5 year stardard fixed rate mortgage: 4.09%
-5 year standard Variable rate mortgage: 2.15%
Effective rate of the 50/50 mortgage is 3.12%. You get a 20% prepayment privilege per year. Whats more, as is the case with all of Merix Financial’s variable rate mortgages you can lock the variable portion into a fixed rate mortgage at any time with no penalty or fee.
A very innovative and useful product for those who want the best of both worlds.
Fill out an application to get your 50/50 wise Merix Financial mortgage today or get in touch with me to discuss the benefits!
Christopher Molder – Son Of A Broker
Licensed by the Financial Services Commission of Ontario under Lic#M08010066
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December 11th, 2009 - 4:17 pm
[...] that they have decreased their mortgage rates. Further to my post earlier this week regarding the Merix 50/50 mortgage the new rate works out to be 3.07%! 3.99% for the 5 Year Fixed portion Prime – .10% for the 5 [...]
January 6th, 2010 - 6:36 pm
Hi Chris,
I was speaking with your father earlier today,
he directed me to your website. and I noticed a couple of typos.
“Merix Fiancial 50/50 Mortgage, the Best of both worlds” (dec.9th)
Also in the “One response to “Merix Fiancial 50/50 etc” (dec.11th)
regards,
Brian Norman
April 26th, 2010 - 3:11 pm
[...] like the better option these days but if you can’t make up your mind there is always the Merix 50/50. [...]