The Gateway Alternative Income Mortgage™

A mortgage program for self-employed clients with non-traditional income sources.

The Gateway Alt Income Mortgage is a mortgage program designed for self-employed clients who aren’t able to prove their income in a traditional way.

Available in all lending locations for clients with a beacon of 580 or higher, using a unique income approach reviewing add-backs and gross-ups to increase income for debt servicing.

CREDIT

• 580+ beacon for primary borrower
• 550+ for co-borrowers
• Discharged from bankruptcy for minimum 12 months with re-established credit
• Consumer proposals considered (must be discharged or paid out from proceeds)

GDS/TDS

• Maximum of 45% GDS / 50% TDS

LTV

• Up to 80% (maximum for primary financing or primary plus secondary financing)

AMORTIZATION

• Up to 30 years

DOWN PAYMENT

• 10% must be from own resources; 20% minimum
• See BwBbrokerinfo.ca/down-payment for a list of approved down payment sources

PROPERTY TYPE

• Marketable, owner-occupied properties
• Second and vacation properties

DOCUMENTS

• Visit BwBbrokerinfo.ca/income for a list of accepted income docs
• Acceptable add-backs to consider

*Motor vehicle expenses should not be included as an add back for the following industries or job types: cab drivers, transport/trucking, delivery/courier, or fleet type businesses.