MERIX & Lendwise Financial products:
Adjustable Rate Mortgage
The Adjustable Rate Mortgage (ARM) is a closed mortgage that offers borrowers the ability to take advantage of potentially lower, short-term interest rates while offering them the peace of mind knowing that they can convert to a Fixed Rate Mortgage at any time during the term.
The Bridge Financing program is for borrowers looking for a temporary loan to cover the intermediary period between the sale of their current home and the purchase of a new one.
Business for Self Program
The Business for Self Program is designed for self-employed borrowers (in business for a minimum of 2 years) that cannot provide traditional sources of income verification.
In partnership with First Canadian Title (FCT), MERIX Financial is pleased to offer borrowers the ability to move their existing collateral mortgage charge to MERIX Financial at a competitive rate with no additional cost to the borrower.
Family Plan Program
The Family Plan mortgage enables borrowers to assist family members that don’t meet income requirements with the purchase of a home. Ideal for parents wishing to buy a home for their children in post-secondary schools and for adult children buying a home for their elderly parents.
Fixed Rate Mortgage
The Fixed Rate Mortgage is a closed mortgage that offers borrowers the comfort of knowing their monthly payment will not change throughout the term of the mortgage. It is also fully assumable and portable, with flexible prepayment options.
Flexible Down Payment Program
The Flexible Down Payment program allows borrowers to use existing credit facilities and/or gifts or borrowed from immediate family members to use as their down payment or for closing costs.
The Interest-Only Flex Mortgage is suitable for borrowers and investors looking to Purchase or Refinance up to 80% of the value of the home and take advantage of lower monthly payments during the term.
New to Canada Mortgage
The New to Canada Mortgage allows qualified borrowers who have immigrated to Canada from another country, or have been transferred here by an employer, to qualify for mortgage insurance with as little as 5% down.
Purchase Plus Improvements Mortgage
Purchase Plus Improvements is suited for borrowers that would like to purchase a home, with improvements. The purchase and the improvements are combined into one mortgage and a single advance. Improvements cannot exceed 20% of the initial value of the property or $40,000. The “as improved value” of the property must be less than $1M.
Rate Plus Mortgage
The Rate Plus Mortgage (RPM) program allows borrowers to take advantage of competitive low interest rates and a full-featured mortgage with all the benefits.
Rental Property Program
The Rental Property Program is suited to borrowers who have established excellent credit history and wish to invest in a rental property. The Rental Program is for those borrowers who wish to purchase a multi-unit property of 2-4 units.
Second Homes Mortgage
A program designed to assist with the purchase of a second home with little money down with an affordable monthly payment.
The Switch Program allows a borrower to transfer their mortgage from another lender to MERIX mortgages quickly and efficiently.
The NPX Enhanced Solution Mortgage allows borrowers to obtain a mortgage up to 65% of the purchase price or appraised value without traditional income verification and traditional Beacon score requirements.
Enhanced Solution: Interest-Only
The NPX Interest-Only ARM Product is designed for borrowers looking to increase cash flow by utilizing an interest-only payment. Borrowers can easily qualify for this product without traditional income verification or traditional beacon score requirements.
The MAX Mortgage is a product designed for prime mortgage borrowers who do not meet debt service guidelines under certain stress-testing scenarios. With this product, the borrowers can qualify at the mortgage contract rate, allowing them to maximize their mortgage amount and reach the MAX of their borrowing potential.
The NPX 80 allows clients to obtain a mortgage up to 80% of the purchase price or appraised value. Available for borrowers with traditional and business for self income.