When using a projected-income mortgage, you’ll have a few down payment options. These are going to be based on either insured or uninsured mortgages. You can learn more about mortgage insurance here. Insured mortgage down payments using projected income must be at least 10% of the purchase price of the home. Uninsured mortgage down payments using projected income must be at least 20% of the purchase price of the home. Generally speaking, only half of your down payment can be from borrowed or gifted funds. However, each lender can have different rules around this. So, it’s best to speak to a mortgage broker who can better direct you, based on your circumstances. Please see more on our website.