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.

A solution for clients with a beacon of 620 or higher.

CREDIT

• 620+ 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)
• Up to 65% for self-declared

AMORTIZATION

• Up to 30 years for self-employed
• Up to 25 years for self-declared

DOWN PAYMENT

• 10% must be from own resources; 20% minimum
• 10% must be from own resources; 35% minimum for self-declared
• 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