Bridgewater Bank Mortgages & Alternative Lending
Bridgewater Bank’s alternative lending solutions (Gateway) opens paths to home ownership for your customers who have difficulty getting financing through traditional means (the big banks). We’ve created Gateway for brokers and their customers who appreciate the importance of having experts shepherd them through more difficult alternative lending landscapes.
Our Progress Advance Mortgage (+Land) offers a smooth, start-to-finish solution for your ready-to-build clients. With the addition of a land advance option, there is no need to send your client to a bank branch. With this fair and robust product, your client also has the option to switch without penalty upon completion.
Additional product information
Bridgewater Bank Gateway mortgages can be used for purchases, refinances or equity take outs. Our mortgages are available in 1 year, 2 year and 3 year terms.
Prepayment privileges* are available. Up to 20% of loan amount (minimum of $500) can be paid once a year on the anniversary date of mortgage (unused portion cannot be carried forward).
We also offer a 3-2-1 PAYOUT*. We recognize that Gateway Mortgages aren’t forever and your client may need to leave early. Our 3-2-1 payout is simple to understand with no complicated formulas. It’s as easy as 1, 2, 3! Early payout amounts are based on which year of the mortgage the customer is in:
- Year 1 = 3% of remaining balance
- Year 2 = 2% of remaining balance
- Year 3 = 1% of remaining balance
*Certain conditions may apply.
Visit our Gateway product standards page for full details that apply across all Gateway alternative lending products.
My underwriter and BDM went above and beyond to make sure this deal funded in a timely matter, and updated conditions within hours of being received.
I don't do many B deals, but when I do Bridgewater Bank is my first choice. Great support from my BDM and great underwriters.
Just an overall great experience. It was my first file in a long time and they really did a great job!
Both my BDM and my underwriter were fabulous in making this deal work! Communication was great and we got a fabulous offer for my client who was facing selling his home in a marital break up. My underwriter was wonderful in managing our tight timeline.
The BDM was always available when I needed [them] the most. The support was there prior to the approval and even right at closing when the client was at the lawyer's office.