Bridgewater Bank

Alternative Lenders
Written By David Pipe
 

Review of Bridgewater Bank Mortgages

Headquartered in Calgary, Bridgewater Bank was established in 1997 as a wholly-owned subsidiary of the Alberta Motor Association (AMA).

Bridgewater Bank focuses on providing mortgage solutions for borrowers who may not fit the traditional lending mold through flexible debt ratios and programs that cater to self-employed individuals who use bank statements as proof of income. They also have a rental program for investors looking to finance rental properties.

 
Bridgewater Bank

Today’s Lowest Rates from Bridgewater Bank

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Ideal Client:

Bridgewater Bank is ideal for borrowers who need flexible lending criteria and can benefit from higher debt ratios. This lender is particularly suitable for self-employed individuals who rely on alternative income documentation, such as bank statements, or investors who are seeking to finance rental properties.

 

Special Features:

Rental Program

 

Bridgewater Bank offers a variety of flexible mortgage options designed to meet diverse needs. With their flexible debt ratios, clients can enjoy more accommodating criteria that may make it easier to qualify. Their bank statement program is ideal for self-employed borrowers, allowing them to use bank statements as proof of income. Additionally, their rental program caters to investors looking to finance rental properties, providing tailored solutions to fit different investment strategies. While these features can be beneficial, clients need to weigh the pros and cons to find the right fit for their financial situation.

 

Downsides:

Geographic Limitation

High Penalties

No Physical Branches

Paperwork Intensive

 

When considering this lender for your mortgage, there are a few downsides to keep in mind. They may charge a potential lender fee, and their prepayment penalties can be higher than what some other lenders offer. Additionally, their lending area is limited, and they don't have physical branches, which might be inconvenient for some. Lastly, the application process can be paperwork-intensive. Being aware of these factors can help you make a well-informed decision that’s right for your needs.

 

Best Suited For:

 

Investors

Bruised Credit

Self-Employed

 
 
 
 
 
David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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