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 of term = 3% of remaining balance
- Year 2 of term= 2% of remaining balance
- Year 3 of term = 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 my BDM were awesome to deal with. I always look to Bridgewater to get deals done.
I'm not the kind of person who just rates people highly. My underwriter really went out of their way on this file and performed well above what was expected. As my relationship with Bridgewater Bank grows, I continue to be impressed with the support and service I get from the BDMs and underwriters.
My favourite part was a very detailed decline. I was able to share the detailed decline with the client’s accountant, clarifying and giving us a successful solution.
My underwriter was outstanding in assisting me with this quick close mortgage, and the funding team was incredible to fund the same day they received completed solicitor conditions. I was very impressed!
From beginning to end, dealing with Bridgewater Bank was flawless! The BDM, underwriter and condition specialist went out of their way to ensure timely processing and effective communication. I will definitely be working with Bridgewater again and recommend my colleagues do too!