Bridgewater Bank
Bridgewater Bank is a wholly owned subsidiary of the Alberta Motor Association (AMA), the largest membership service organization in Alberta. In business since 1997, Bridgewater Bank has developed a reputation for specializing in competitive residential mortgage financing.
With offices in Vancouver, Calgary, Edmonton, Toronto, Ottawa and Halifax, Bridgewater Bank understands the national marketplace and has the expertise to meet the demands of today's residential homebuyers across the country. Lending in all provinces and territories with the exception of Quebec, Bridgewater Bank manages a portfolio of $2.55 billion in mortgages and $313 million in GICs consisting of close to 15,000 mortgage and 11,000 GIC accounts across Canada.
| Minimum Mortgage Amount | $50,000 |
|---|---|
| Portable | Yes, upon qualification |
| Amortization | 16 Years Minimum, 35 Years Maximum |
| Assumable | Yes, upon qualification |
| Rate Guarantee | Up to 90 Days |
| Preapprovals | No |
| Payment Frequencies | Weekly, Accelerated Weekly, Bi-Weekly, Accelerated Bi-Weekly, Semi-Monthly,Monthly |
| Early Payout Penalties | Interest Rate Differential based on current bond rate + 50 basis points. (0.5%) |
| Prepayment Privileges | up to 20% of mortgage amount per year, + increase Payments by 20% per year. |
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