Quick Close Promotion

Are You Quick Close Qualified?

Bridgewater Bank is increasing your finder’s fee in return for your hard work! What does this mean? The fee increase is for doc-ready alternative deals that fund within 30 days from commitment when a complete document package is submitted. This promotion will is extended to May 31 2017. Everything you need to know on how to qualify is right here on this page!

Finder’s Fees

Term Regular Finder’s Fee Quick Close Finder’s Fee
1 Year 60 bps 70 bps
2 Year 70 bps 100 bps
3 Year 80 bps 100 bps

Pricing

Conditions:

Eligible Mortgages

All new Gateway Alternative mortgages (purchase and refinances) submitted from March 1, including:

Underwriting Requirements

  • A single, full document package must be submitted as outlined in the commitment of the deal
  • Must include “Quick Close Promotion” in deal notes upon submission
Deadline(s)

  • Deal must fund within 30 days of the day the commitment was issued.
  • Full document package must be submitted within 10 business days of the day the commitment was issued.
Appraisals

  • Required from list of BwB approved appraisers which will be issued to you at time of commitment.
  • Have questions about appraisal? Read our FAQs for more information.
Locations

  • Some restrictions may apply. Maximum LTV available depends on property type/marketability and geographic location. Contact your BDM for more details today!
Considerations

Regular finder’s fees will be paid in the following circumstances:

  • Mortgages that fund after 30-day period, no exceptions
  • Document packages submitted in more than a single bundle
  • Document packages submitted more than a single time

To help in proactively gathering documents, below are common examples of requirements in “full” packages. Note that individual packages will differ depending on the conditions listed in the deal’s commitment:

Purchase

  • Signed commitment
  • Income proof used to debt service the deal (including any rental income used)
  • Offer to Purchase, MLS
  • Down payment
  • Proof that debts are paid prior to funding
  • Separation agreements
  • Prepaid judgements/collections
  • Solicitor’s name
Refinance

  • Signed commitment
  • Income used to debt service the deal (including any rental income used)
  • Debts paid prior to funding
  • Separation agreement
  • Prepaid judgements/collections
  • Solicitor’s name

If you have any questions, please contact your local BDM