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Vice-President, National Sales
Jason Provencher Phone: 403.472.7340 Toll Free: 1.888.472.7340 Fax: 403.718.3042 jprovencher@bridgewaterbank.ca
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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
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Edmonton, central & northern Alberta
Laura Cook Phone: 587.341.4160 Toll Free: 1.844.430.4846 lcook@bridgewaterbank.ca
Headshot of Laura Cook
Select a location from above to display BDMs
Contact a BDM
Vice-President, National Sales
Jason Provencher
Phone: 403.472.7340
Toll Free: 1.888.472.7340
Fax: 403.718.3042
jprovencher@bridgewaterbank.ca
Headshot of Jason Provencher
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
Laura Cook
Phone: 587.341.4160
Toll Free: 1.844.430.4846
lcook@bridgewaterbank.ca
Headshot of Laura Cook

The makings of a million dollar deal

In this Deal Scenario, we put a spotlight on our recent decision to raise lending limits and help clients purchase a million-dollar rural (well-and-septic) acreage. The deal came our way because the property is located in a rural area, outside a city centre, and the ratios were 41%/49%, higher than an A lender would accept.

The primary borrower is self-employed, and company financials show good revenues and positive retained earnings. Without looking further, this alone may not have been enough for approval. But our expert underwriter found the winning combination and used our add-back model to push up their income – and then topped it up even more by including potential income from the rental suite on the property.

The clients had no trades owing, high beacon scores, and an LTV of 75%, paid from the proceeds of the sale of their existing property, which allowed us to put our stamp of approval on this million-dollar deal.

**The AIR is compounded semi-annually, not in advance. The APR based on a $1,025,000 loan on a 2-year term, with a 30-year amortization and loan fee of 1% is 4.00%.

All rates are subject to full underwriting policy and may change without notice. Amounts over the above-stated limits may be available on a case-by-case basis. Geographic, property, and credit restrictions apply.

Should you have questions, please contact your BDM.

For internal broker use only. Not intended for external consumer use.

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