The Gateway Self-Employed Mortgage™
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A mortgage solution for your self-employed clients unable to secure financing with a traditional bank.
The Gateway Self-Employed Mortgage is the best option for your self-employed clients. With a lower qualifying beacon, this mortgage product offers a solution to your self-employed clients who may have non-traditional income.
Download the Gateway Self-Employed Mortgage product sheet.
CREDIT
- 500+
- 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 55% GDS / 55% TDS
LTV
- Up to 80%
AMORTIZATION
- Up to 35 years
DOWN PAYMENT
- 10% must be from own resources or gifted; 20% minimum
- See our list of approved down payment sources
PROPERTY TYPE
- Marketable, owner-occupied properties
- Second and vacation properties
- Rural properties (agricultural zoned properties not accepted)
DOCUMENTS
- See our list of accepted income docs for verified income and alternative provable income.
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Additional product information
Additional product information
Bridgewater Bank Gateway mortgages can be used for purchases, refinances or equity take outs. Our mortgages are available in 1 year, 2 year and 3 year terms.
Prepayment privileges* are available. Up to 20% of loan amount (minimum of $500) can be paid once a year on the anniversary date of mortgage (unused portion cannot be carried forward).
We also offer a 3-2-1 PAYOUT*. We recognize that Gateway Mortgages aren’t forever and your client may need to leave early. Our 3-2-1 payout is simple to understand with no complicated formulas. It’s as easy as 1, 2, 3! Early payout amounts are based on which year of the mortgage the customer is in:
- Year 1 of term= 3% of remaining balance
- Year 2 of term= 2% of remaining balance
- Year 3 of term = 1% of remaining balance
*Certain conditions may apply.
Visit our Gateway product standards page for full details that apply across all Gateway alternative lending products.
Subject to full underwriting policy and may change without notice.