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20 Church Street

Mon - Thurs. 8:30 AM - 3:00 PM
Fri. 8:30 AM - 4:00PM

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Mortgage

The Mortgage Loan provides up to 95% financing on residential properties.

Mortgage

 

About This Loan

The Mortgage Loan offers members the opportunity to receive a maximum of up to 95% financing on residential areas and up to 90% on commercial property. The maximum repayment time for the loan is 30 years but can vary with the member's age. The interest rate for repayment is 8.49%. Gateway is currently having a special Mortgage Sale, where the interest rate is at 7.4%

What You Need To Know

Up To

95% of Property Cost

in Available Funds

30 Years

To Repay

Up To

Up to 2 Weeks

Avg. Approval Time

As Low As

7.4%

Interest Rate

Up To

 
 

Additional Information

Who is This Loan Primarily For?

Cornwall businesses wishing to purchase property to create offices

Cornwall businesses wishing to construct an office on land purchased

Cornwall residents wishing to purchase a home

Cornwall residents wishing to construct a home on land purchased

Cornwall tenants wishing to purchase a home for themselves

Cornwall real estate investors wishing to add more property to their portfolio

Cornwall startup real estate investors wishing to purchase their first property

Do I Need Collateral To Apply For This Loan?

No, the house will be used as collateral.

Minimum Amount Disbursed For This Loan?

No Minimum

What Are The Requirements To Apply For This Loan?

  • Copy of Registered Title

  • Signed Sales Agreement and Evidence of Deposit

  • Valuation Report not older than 2 years

  • Surveyor’s Report not older than 1 year

  • Verification of Income

  • Last 3 Months Pay Slips

  • Up-To-Date Property Tax Receipt

  • Proof of Age of Borrower & Co-Maker

  • Letter of Guarantor (where applicable)

  • NHT Referral Letter (where applicable

  • Discharge of Mortgage (where applicable)

  • Income and Expenditure statement and Cash Flow Projections (self employed)

Members who would need the loan for construction would need the following in order to qualify:

  • Approved Building Plan

  • Estimate for Work to be Done

  • Quantity Surveyor’s Report with Estimated Cost

  • Written Agreement with Contractor

  • Relevant Requirements Noted Above

 
Steps To Apply

Become a member of Gateway

1

Fill out and submit a loan application form in branch

2

Submit all required documents

3

Submit proof of ownership/proof of funds for collateral

4

Pay down payment fee

5

Wait for loan to be processed

6

Receive a call from a Gateway credit clerk

7

Sign relevant documents for disbursement

8

Our Team Stands Ready

If you're interested in any of our loans, we'll pair you with our expert customer service representatives, who will work with you to understand how to bring you to the solution they need.

 

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STILL NOT SURE?

Deciding whether Gateway is the right partner for your loan? We know that this is a long-term decision, and we want to ensure that you are fully informed going into this commitment with us.

 

Learn more about this opportunity by chatting with our agent, or by visiting our Frequently Asked Questions.

 

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