The Gateway Rental Mortgage™
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The best option for clients:
- Who are looking to purchase or refinance an investment property
- Who have traditional, proven income
- Who have a 600+ beacon score
- Who are investors with one or more rental properties
CREDIT
- 600+ primary borrower
- 550+ co-borrowers
- Minimum personal net worth of $50,000; visit net worth assets
- Discharged from bankruptcy for minimum 12 months with re-established credit
- Consumer proposals considered (must be discharged or paid out from proceeds)
GDS / TDS
- Maximum of 45% GDS / 50% TDS
LTV
- Up to 75% (maximum for primary financing or primary plus secondary financing)
AMORTIZATION
- Up to 25 years
DOWN PAYMENT
- 10% must be from own resources; 25% minimum
- See our list of approved down payment sources
PROPERTY TYPE
- Legal, owner occupied or non-owner occupied rental/investment properties
- Up to 4 properties financed by Bridgewater Bank with no limit on rentals with other lenders
- Single family, duplex, fourplex, townhouse, apartment, condo
- Property must be registered in personal name
- Non-conforming suites in major markets that conform to municipal zoning requirements considered
DOCUMENTS
- See our list of accepted income docs