Packaging your deals isn’t always easy, but it’s a lot easier when you have our rates handy—and a good BDM to help you through it. Fortunately, we have both! Find our most up-to-date rate information on all Gateway mortgages below. Get your deals in quick to secure the best rate for your clients.
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.
The rates shown below are subject to full underwriting policy and may change without notice. Our rates were last revised on May 29, 2023, and are effective as of today.
|Beacon score||1-year term**||2-year term*||3-year term*||Max LTV||Lender fee|
|Commission||60 bps||70 bps||80 bps|
Rate premiums, including the following, may apply:
A simple conversation with your BDM could make all the difference when it comes to alt mortgages. That’s because we take your client’s circumstances and the nature of the deal into account when setting the rate.
The Bank of Canada’s Benchmark rate currently sits at 4.50%. For more information, visit bankofcanada.ca.
|Bridgewater Bank Prime Rate: 6.70%|
|Last date adjusted: January 23, 2023|
*The quoted rates are an Annual Interest Rate (AIR). The AIR is compounded semi-annually, not in advance. The Annual Percentage Rate (APR) is calculated using the AIR plus the lender fee. When communicating rates to a consumer, you must provide the consumer with AIR and the APR, which will be provided to you in a mortgage commitment and disclosure statement.
**The APR calculations are based on a 1-year, $300,000 loan with a 30-year amortization and loan fee of 1%. For AIR 6.44% = APR 7.44%, AIR 6.54% = APR 7.54%, AIR 6.69% = APR 7.69%, AIR 7.29% = APR 8.29%, AIR 7.59% = APR 8.59%.
Our BDMs are here to answer your questions and help you succeed.Ready to get your deals done?