Bridgewater Bank
Although Bridgewater Bank offers a couple of unique mortgage products, Bridgewater Bank mortgage may or may not be the ideal lender for you or your situation.
If you are interested in a Bridgewater Bank mortgage product or would like to compare their products to other lenders mortgage rates, please call today or apply online.
Use our mortgage calculator to give you an idea of how much you can afford.
80% Rental Offset Lender
Bridgewater Bank is an 80% rental offset lender. This is a great product for real estate investors. Bridgewater Bank mortgage offers this product on all of their 1, 2, 3, 4 and 5 year fixed and variable rate mortgages.
For more information on how to purchase investment property or what an 80% rental offset is, please see our rental property mortgage page.
Rental Property Mortgages
Bridgewater Bank offers mortgages for rental properties with financing up to 95% for 2 or less units and 90% financing for up to 4 units. 5 year fixed rate terms only. Borrowers can hold up to 5 mortgages (collectively).
Self Employed Borrowers
Bridgewater Bank offers mortgages to small business and self employed borrowers with low documentation requirements. Depending on the credit rating of the borrow, as little as a recent notice of assessment showing no taxes owing and 2 years of proof of business can obtain a mortgage loan up to 95% of the value of the home.
2% Cash Back Mortgage
Bridgewater Bank offers 2% cash back mortgages. This is a great product for first time home buyers with an insufficient down payment or for savvy investors. Bridgewater Bank mortgage offers this product on its 3 and 5 year fixed rate mortgages. Because this product is utilized by high-ratio and higher risk borrowers, the product usually carries a premium in terms of rate. The 5 year 2% Cash Back mortgage rate is usually 0.60% or more higher then their traditional 5 year discounted rate. At these historic lows in interest rates, this is still a fantastic rate for someone who wants to buy a house with very little down payment.
For more information on how to obtain a property with ‘0%’ down, look for the article in the first time home buyers section.
Welcome to Canada Program for Permanent and Temporary Residents
Bridgewater Bank offers mortgages up to 95% for those who have recently immigrated to Canada and those on temporary work permits.
Construction Financing and Purchase Plus Improvement Mortgages
Bridgewater Bank offers construction financing and purchase plus improvement mortgages. Follow the links for more information on these programs.
Bridgewater Bank Offers High TDS Ratios
Bridgewater Bank mortgage offers TDS ratios up to 44%, depending on your credit score.
TDS – Total Debt to Service ratio. The amount of debt being serviced as a percent compared to the total income.
Other Bridgewater Bank Mortgage Products Available
- High ratio mortgages – up to 95% loan to value
- Rural mortgage
- Amortization up to 35 years
Bridgewater Bank Mortgage Terms Available
| Fixed Rate: | 1, 2, 3, 5 and 10 year fixed |
| Variable Rate: | 5 year |
| Convertible: | n/a |
| Closed: | 1, 2, 3, 5 and 10 year fixed and 5 year variable rate |
| Open: | n/a |
Bridgewater Bank Payment Options
-
Weekly
-
Biweekly (accelerated)
-
Semi-monthly
-
Monthly
Bridgewater Bank Pre-payment Options
- Payments may be increased up to 20% during the term.
- Pre-pay up to 20% each year on the original balance of your mortgage without penalty.