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.
- 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)
- Maximum of 45% GDS / 50% TDS
- Up to 80% (maximum for primary financing or primary plus secondary financing)
- Up to 65% for self-declared
- Up to 30 years for self-employed
- Up to 25 years for self-declared
- 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
- Marketable, owner-occupied properties
- Second and vacation properties
- Visit BwBbrokerinfo.ca/income for a list of accepted income docs