17.5% down on $910,000

[Kevin C.]

Here's the situation :

Bought Condo last year all in with upgrades $910,000.  Put 17.5 % down (160,000). Cant get a Mtge because  I own 2 small businesses and  have no Salary income and no 1099's. . Capital gains Income in past only.  

 Told Condo is worth between $975,000 -$1,050,000.  

Mtge brokers/Banks say only way to get Mtge is to put 40% down.???

Does this sound right? 

Greatly Appreciate any advise.

Thanks 

KC