The Gateway Rental Mortgage™

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The Gateway Rental Mortgage is the best option for clients looking to purchase or refinance an investment property, are investors with one or more rental properties, earn traditional or proven income, and have a 600+ beacon score. Clients must show minimum personal net worth of $50,000 and provide minimum 25% down payment. See full details below.

CREDIT

600+ for primary borrower
550+ for 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 5 rental properties in one portfolio accepted
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

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: