Unfortunately, naming a beneficiary is not available on the Smart eSavings Account and Bridgewater Bank doesn’t offer “In Trust” accounts. But we have options you might want to consider: • Individual ownership • Joint ownership with right of survivorship All account holders must be at the age of majority. Read More
Please contact us and we will assist you with making the change. Read More
Once your application has been approved, we’ll send you a Welcome Package. And of course, you can contact us at any time for more information about your savings account. Please contact us to advise of updates to personal account information such as a change of address or name. We’re always happy… Read More
A mortgage term is the length of time a lender will lend mortgage funds to a borrower. Most mortgage terms run from six months to five years. Certain lenders may offer longer terms, e.g., 6, 7 or 10 years. After this period, the borrower can either repay the balance — the… Read More
It takes a minimum of 30 days and as many as 90 days to complete your mortgage qualifying and approval process. Read More
Under most circumstances, you must be employed for a minimum of 3 months and be past the probationary period at your place of employment for the lender to consider your current employment and salary. Read More
You can ask for a copy of your credit report by mail or access an online version usually for a small fee. There are two main credit bureaus in Canada: Equifax Canada and TransUnion Canada. Read More
There are several possible extra costs involved in purchasing a home. Some are one-time closing costs, such as land transfer taxes, legal or notary fees, fire insurance, survey fee or title insurance, and applicable sales tax. Others, such as property insurance, are ongoing monthly expenses. We recommend that you budget… Read More
An open mortgage gives homeowners the flexibility to pay off their mortgage at any time. A closed mortgage is more strict – homeowners have to pay a penalty if they choose to pay off their mortgage before the term ends. Open mortgage: Allows you to pay back the borrowed funds any… Read More
The difference between a fixed rate and an adjustable rate mortgage is that for fixed rates, the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down. Fixed rate mortgage: Your rate will be… Read More