The Gateway Alternative Income Rental Mortgage™
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A mortgage program for clients looking to purchase or refinance an investment property.
The Alternative Income Rental Mortgage is a mortgage solution for rental property investors who have non-traditional income.
CREDIT
- 600+ beacon for primary borrower
- 550+ for co-borrowers
- Minimum personal net worth of $50,000; visit BwBbrokerinfo.ca/assets
- 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 75% (maximum for primary financing or primary plus
secondary financing)
AMORTIZATION
- Up to 25 years
DOWN PAYMENT
- 10% must be from own resources; 25% minimum
- See BwBbrokerinfo.ca/down-payment for a list of approved down payment
sources
PROPERTY TYPE
- Legal, owner occupied or non-owner occupied rental/investment properties
- Single family, duplex, fourplex, townhouse, apartment, condo
- Property must be registered in personal name
- Non-conforming suites in major markets that conform to municipal zoning requirements considered
- Refer to lending locations – all areas marked with * are accepted rental lending areas
DOCUMENTS
- Visit BwBbrokerinfo.ca/income for a list of accepted income docs