Underwriting Guidelines for Expanded and Alternative Mortgages

NEW - EXPANDED MORTGAGES
PRODUCT

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $1,000,000 Max equity withdrawal up to $200,000
Income Verification	Flexible Documentation Letter of Attestation of Income Business bank statements for most recent 12 months Recent NOA (confirming no tax arrears) Documentation is required upfront
Max Loan-To-Value (LTV)¹	Up to 80%
Min Credit Score¹	580
Max GDS/TDS	35%/42% >680 = 39%/44%
Maximum Amortization	Up to 35 years
Terms	6 months closed 6 months convertible 6 months open 1-year open 1 - 5, 7 and 10-year closed
Additional requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis Minimum 2 years in business

BFS - New Professional

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $1,000,000 Max equity withdrawal up to $200,000
Income Verification	Flexible Documentation Letter of Attestation of Income Confirmation of professional accreditation Recent NOA (confirming no tax arrears) Documentation is required upfront
Max Loan-To-Value (LTV)¹	Up to 80%
Min Credit Score¹	580
Max GDS/TDS	35%/42% >680 = 39%/44%
Maximum Amortization	Up to 35 years
Terms	6 months closed 6 months convertible 6 months open 1-year open 1 - 5, 7 and 10-year closed
Additional requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

Vacation/ Secondary Home

Eligible Properties	Owner occupied Max 1 unit
Loan Amounts	$50,000 up to $300,000 Max equity withdrawal up to $50,000
Income Verification	Verifiable Income BFS — Expanded BFS — New Professional
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	620
Max GDS/TDS	35%/42% >680 = 39%/44%
Maximum Amortization	Up to 35 years
Terms	6 months closed 6 months convertible 6 months open 1-year open 1 - 5, 7 and 10-year closed
Additional requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

Rental

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$75,000 up to $1,000,000 Max equity withdrawal up to $25,000
Income Verification	Verifiable Income BFS — Expanded BFS — New Professional
Max Loan-To-Value (LTV)¹	Up to 75%
Min Credit Score¹	650
Max GDS/TDS	35%/42% >680 = 39%/44%
Maximum Amortization	Up to 35 years
Terms	6 months closed 6 months convertible 6 months open 1-year open 1 - 5, 7 and 10-year closed
Additional requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

Secondary Income Qualifier (SIQ)

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $1,000,000 Max equity withdrawal up to $200,000
Income Verification	Verifiable Income Secondary income(documentation requirements vary depending on deal specifics)
Max Loan-To-Value (LTV)¹	Up to 80%
Min Credit Score¹	580
Max GDS/TDS	35%/42% >680 = 39%/44%
Maximum Amortization	Up to 35 years
Terms	6 months closed 6 months convertible 6 months open 1-year open 1 - 5, 7 and 10-year closed
Additional requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

NEW - ALTERNATIVE UNDERWRITING GUIDELINES
PRODUCT

Equity 50

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $400,000
Income Verification	Verifiable or BFS (verbal, not confirmed)
Max Loan-To-Value (LTV)¹	Up to 50%
Min Credit Score¹	660
Max GDS/TDS	N/A
Maximum Amortization	Up to 30 years Up to 35 years for 5-year terms only
Terms	1 - 5 year closed 3 and 5-year VRM
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days Properties must be in an urban location and move-in ready No previous bankruptcies Must have positive net worth No income tax arrears

Equity 65

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $400,000
Income Verification	Verifiable or BFS (standard proof of income)
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	660
Max GDS/TDS	NA/50% or NA/65% Net worth must be 1.5x loan amount with confirmation required
Maximum Amortization	Up to 30 years Up to 35 years for 5-year terms only
Terms	1 - 5 year closed 3 and 5-year VRM
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days Properties must be in an urban location and move-in ready No previous bankruptcies Must have positive net worth No income tax arrears

Credit Rebuild

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $750,000 BFS Stated for credit score < 600: up to $500,000 Max equity withdrawal up to $100,000 for credit score ≥ 600
Income Verification	Verifiable or BFS Stated > 2 years
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	540
Max GDS/TDS	NA/45% BFS Stated for credit score < 600: NA/42% Bankruptcy discharged less than 2 yrs: NA/40%
Maximum Amortization	Up to 35 years BFS Stated credit score < 600: Up to 25 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed case by case, based on length of time from bankruptcy discharge and credit score Bankruptcy discharged 2 years with re-established credit Bankruptcy discharged between 1 - 2 years with re-established credit Bankruptcy discharged less than 1 year with re-established credit

Secondary Income Qualifier (SIQ)

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $750,000 BFS Stated for credit score < 600: up to $500,000 Max equity withdrawal up to $100,000 for credit score ≥ 600
Income Verification	Verifiable Secondary income (documentation requirements vary depending on deal specifics)
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	540
Max GDS/TDS	NA/45% BFS Stated for credit score < 600: NA/42%
Maximum Amortization	Up to 35 years BFS Stated credit score < 600: Up to 25 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

BFS > 2 Years

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $750,000 BFS Stated for credit score < 600: up to $500,000 Max equity withdrawal up to $100,000 for credit score ≥ 600
Income Verification	Verifiable or Stated
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	540
Max GDS/TDS	NA/45% BFS Stated for credit score < 600: NA/42%
Maximum Amortization	Up to 35 years BFS Stated credit score < 600: Up to 25 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

BFS < 2 Years

Eligible Properties	Owner occupied 1-2 units
Loan Amounts	$50,000 up to $500,000 Max equity withdrawal up to $50,000
Income Verification	BFS Stated
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	540
Max GDS/TDS	45%/50%
Maximum Amortization	Up to 35 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis Loan amount may vary based on lower credit score, property location or property type

Rental

Eligible Properties	Non-owner occupied 1 - 4 units verifiable 1 - 2 units BFS Stated
Loan Amounts	$75,000 up to $500,000 Max equity withdrawal up to $50,000 BFS Stated up to $25,000
Income Verification	Verifiable or BFS Stated > 2 years
Max Loan-To-Value (LTV)¹	Up to 65%
Min Credit Score¹	580 Verifiable 650 BFS Stated
Max GDS/TDS	NA/42% Also BFS Stated min DCR .75x
Maximum Amortization	Up to 25 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis 80% rental offset available if subject property is the rental Properties must be in an urban location

Vacation/ Secondary Home

Eligible Properties	Owner occupied 1 unit only
Loan Amounts	$50,000 up to $300,000 Max equity withdrawal up to $50,000
Income Verification	Verifiable or BFS Stated > 2 years
Max Loan-To-Value (LTV)¹	Up to 65% BFS Stated up to 60%
Min Credit Score¹	620
Max GDS/TDS	NA/45%
Maximum Amortization	Up to 35 years
Terms	1 - 5 year closed
Additional Requirements/Features	Rate hold: Purchase — 120 days², Refinance — 60 days LTV is assessed on a case by case basis

^¹Debt service flexibilities are based on an assessment of the strength of the overall application. Satisfying the minimum credit score alone does not automatically entitle the borrower to debt service flexibilities.

^²Standard rate hold for purchase is 90 days; premium applies for rate hold up to 120 days. All mortgages are subject to credit approval. Certain conditions apply. All mortgages are funded by, registered in the name of, administered and serviced by B2B Bank. ^®B2B BANK and BANKING THAT WORKS FOR BROKERS are registered trademarks of B2B Bank.

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Underwriting Guidelines for Expanded and Alternative Mortgages

NEW - EXPANDED MORTGAGES
PRODUCT

NEW - ALTERNATIVE UNDERWRITING GUIDELINES
PRODUCT

Contact your Business Development Manager to get started

Lending Location Tool

Questions? Find your B2B Bank BDM

Underwriting Guidelines for Expanded and Alternative Mortgages

NEW - EXPANDED MORTGAGES PRODUCT

NEW - ALTERNATIVE UNDERWRITING GUIDELINES PRODUCT

Contact your Business Development Manager to get started

Lending Location Tool

Questions? Find your B2B Bank BDM

NEW - EXPANDED MORTGAGES
PRODUCT

NEW - ALTERNATIVE UNDERWRITING GUIDELINES
PRODUCT