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Contact a BDM
Lower Mainland, Island and northern British Columbia
Yvonne Futter Phone: 604.506.7114 Toll Free: 1.866.867.1777 Fax: 403.718.3042 yfutter@bridgewaterbank.ca
Headshot of Yvonne Futter
Edmonton, central & northern Alberta
Eric Doucet Phone: 403.806.8466 edoucet@bridgewaterbank.ca
Headshot of Eric Doucet
Manager, National Accounts
Eric Doucet Phone: 403.806.8466 edoucet@bridgewaterbank.ca
Headshot of Eric Doucet
Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island
Paul Delaney Phone: 905.866.7162 Toll Free: 1.844.734.4762 pdelaney@bridgewaterbank.ca
Headshot of Paul Delaney
Manager, National Accounts
Eric Doucet Phone: 403.806.8466 edoucet@bridgewaterbank.ca
Headshot of Eric Doucet
Select a location from above to display BDMs
Contact a BDM
Lower Mainland, Island and northern British Columbia
Yvonne Futter
Phone: 604.506.7114
Toll Free: 1.866.867.1777
Fax: 403.718.3042
yfutter@bridgewaterbank.ca
Headshot of Yvonne Futter
Edmonton, central & northern Alberta
Eric Doucet
Phone: 403.806.8466
edoucet@bridgewaterbank.ca
Headshot of Eric Doucet
Manager, National Accounts
Eric Doucet
Phone: 403.806.8466
edoucet@bridgewaterbank.ca
Headshot of Eric Doucet
Nova Scotia, New Brunswick, Newfoundland and Prince Edward Island
Paul Delaney
Phone: 905.866.7162
Toll Free: 1.844.734.4762
pdelaney@bridgewaterbank.ca
Headshot of Paul Delaney
Manager, National Accounts
Eric Doucet
Phone: 403.806.8466
edoucet@bridgewaterbank.ca
Headshot of Eric Doucet

Get Into the Rental Market with the Gateway Rental Mortgage™

If you have a client looking for an investment property mortgage, check out Bridgewater Bank’s Gateway Rental Mortgage.

It’s an ideal solution for those who want to own rental properties but may not qualify for a traditional big-bank mortgage. It also gives you the opportunity to better serve your clients by offering them solutions they just can’t get elsewhere.

Related3 Reasons to Work with Mortgage Brokers vs Big Banks

5 key things about the Gateway Rental Mortgage™

There are not a lot of mortgages designed specifically for purchasing or refinancing rental properties. The Gateway Rental Mortgage:

  1. Can be for owner-occupied or non-owner-occupied properties—something that not every lender allows.
  2. Allows for many types of property purchases, including single family homes, duplexes, fourplexes, townhouses, apartments and condos.
  3. Allows a client to finance up to five properties, to a maximum of $1.5 million (combined).
  4. Offers flexibility in rates and fee structure from a near-prime, non-private lender.
  5. Allows for market rents or an 80% rental offset to be used against expenses, depending on the property.

What your client needs

Because Bridgewater Bank is an alternative lender, we offer investment property mortgage solutions that the big banks just can’t match. We still need to manage the risks, but we take a look at each person and their unique needs to determine the terms of the mortgage.

One major risk for your client will be the rental market. A vacant property doesn’t earn income, which is needed to make mortgage payments. We ask that:

  • The property be located in a larger market to increase rental opportunities. That means in or near a major urban centre, or a small centre with a population of at least 50,000.
  • Your client has a minimum personal net worth of $50,000.
  • Your client provides a minimum 25% down payment, 10% of which must be from their own resources.

Non-traditional income…no problem

We know that not all clients will have income from a T4 slip and a letter from their employer. We specialize in helping people who are self-employed. With the proper income verification, your client can get into the investment property market.

Credit scores and debt ratios

To qualify for this mortgage product, your client should have:

  • A beacon score of 600+ for the primary borrower or 550+ for co-borrowers.
  • Discharge from bankruptcy for minimum 12 months with re-established credit.
  • A maximum of 45% gross debt servicing (GDS) and 50% total debt servicing (TDS).

Interested in learning more about Bridgewater Bank’s Gateway Rental Mortgage? Contact one of our expert BDMs and underwriters to request more information.

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