Select a location from above to display BDMs
Contact a BDM
Senior Manager, B2B Solutions
Jason Provencher Phone: 403.472.7340 Toll Free: 1.888.472.7340 Fax: 403.718.3042 jprovencher@bridgewaterbank.ca
British Columbia
Yvonne Futter Phone: 604.506.7114 Toll Free: 1.866.867.1777 Fax: 403.718.3042 yfutter@bridgewaterbank.ca
Edmonton, central & northern Alberta
Laura Cook Phone: 587.341.4160 Toll Free: 1.844.430.4846 lcook@bridgewaterbank.ca
Select a location from above to display BDMs
Contact a BDM
Senior Manager, B2B Solutions
Jason Provencher
Phone: 403.472.7340
Toll Free: 1.888.472.7340
Fax: 403.718.3042
jprovencher@bridgewaterbank.ca
British Columbia
Yvonne Futter
Phone: 604.506.7114
Toll Free: 1.866.867.1777
Fax: 403.718.3042
yfutter@bridgewaterbank.ca
Edmonton, central & northern Alberta
Laura Cook
Phone: 587.341.4160
Toll Free: 1.844.430.4846
lcook@bridgewaterbank.ca

The Progress Advance Mortgage (+Land)™

The Progress Advance Mortgage (+Land)

A smooth start-to-finish solution for your ready-to-build clients.

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’s no need to send your client to a bank branch – Bridgewater Bank’s complete offering includes expert support every step of the way. You can earn a finder’s fee and your clients have the option to switch without penalty upon completion.

Information

Resources

To ensure a fast approval of your application, please provide the documents outlined in the schedules below, along with your application:

New home construction financing

Big banks

  • No broker payment
  • Land loan interest rate at bank’s discretion
  • In branch only
  • Registration fee
Bridgewater Bank

  • Land advance (optional) and progress advance are wrapped under one mortgage for a smooth, seamless client experience
  • Broker Paid $ at completion
  • Transparent rate (Prime + 5% – interest only on advance)
  • Single registration
  • Single insurance premium
  • Inspections included
  • Dedicated underwriter for entire process
  • No broker payment
  • Non-transparent rate (anywhere from Prime + 2-5% – interest only on advance)
  • Second registration fee
  • Possible inspection costs
  • Broker finally paid $
  • Rate typically locked in at posted – 1% (roughly 1% above best advertised rate)
  • Limited options for mortgage term and type
(With Switch):

  • Broker paid AGAIN $$$
  • Broker keeps control of client
  • Best rate available based on client’s profile

Building a home is a big commitment for your clients. Managing their expectations and controlling their fears can be one of the biggest challenges for brokers. We are here to help. Contact your local BDM.

© BRIDGEWATER BANK 2020