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MERIX

With over 29 billion dollars in funded mortgages, MERIX Financial focuses on helping Canadians from all walks of life realize the dream of homeownership. MERIX Financial has a record of building strong partnerships with leading Originators across the country. The Originators they partner with are committed to delivering the highest level of service standards.

MERIX Financial, Lendwise, and NPX are all under the same company.

Closed Program Details

Purpose

  • Purchase
  • Refinance 

Property Type

  • Owner Occupied
  • Rentals up to 70% LTV
  • Highly Marketable

Term

1,2, and 3 year (fixed)

Open term available upon request

Rate

·        Fixed

·        Rate hold 90 days

Loan Amount

·        Minimum $100,000

·        Maximum $1 million

Maximum (LTV)**

  • Up to 80% of the property’s appraised value or purchase price, whichever is less

Down Payment

10% minimum. Gifts allowed

Payment Options

Monthly, semi-monthly, bi-weekly, weekly (accelerated)

Prepayment Privilege

  • Lump sum up to 20% of the original principal amount
  • 20% increase in payment

Early Payout

Closed term: greater of 3 months interest or interest rate differential

Credit History

  • Minimum 500+ beacon score
  • Beacon under 500 will be available on a case by case basis
  • Bankruptcy must be discharged
  • Consumer proposal must be paid in full

Income

  • Documentation will be required to support existence of a business
  • Documentation will be required for confirmation of employment as stated
  • Contributory income from residing immediate family allowed

Other

  • Assumable transferable upon approval

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