We say YES when big banks say no. 20% down payment, NO GDSR required.
Why Bridgewater Bank?
More opportunities to qualify for a mortgage.
No mortgage insurance required.
Who Will Benefit?
Homebuyers who have at least 20% for the down payment.
Homeowners who have a relatively high carrying cost for their
homes; Gross Debit Service Ratio (GDSR) is too high to meet
most lenders’ requirements.
This product exempts your client from the GDSR requirement,
when most lenders use GDSR as important approval criteria.
We go above and beyond to find a way to get your deal
approved. We’ll escalate the approval process where necessary,
including restructuring the application.
Our rates are highly competitive.
Purchase / Purchase Plus Improvements /
5 year, closed only.
25-year amortization with minimum 16-year
At least 10% from homeowner’s own
resources. Secondary finance for gifted up to
Single family, duplex up to 4-plex, townhouse,
apartment condo, mobile homes on owned
All prudent requirements related to income
and credit worthiness apply.
Weekly, bi-weekly, semi-monthly, or monthly.
No GDSR is required.
LTV > 50% < 75% TDSR 43%
LTV = 75%
20/20 - Up to 20% of the original principal or
the new term principal amount, paid
annually with minimum payment of $500.00.
Regular mortgage payment may be increased
up to 20% during the term.
The greater of Interest Rate Difference (IRD)
based on the difference between the
mortgage rate and the Government of
Canada Bond Rate, or 3 month interest
Straight port only available for LTV 90% or
less. No blend and extend available.