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Ask an Expert – How do you get a mortgage without a regular salary?

Answered By

Marla Barch

Mortgage Lender

Marla.barch@myccmortgage.com

Question

How do you get a mortgage without a regular salary?

Answer

Qualifying for a mortgage requires you to have a stable “income” that is likely to continue. However, there are lots of acceptable “income” types beyond a regular W-2 job, such as

Self-Employed Income
Child Support
Alimony
Social security
Disability Income
Rental income from Investment Properties
Retirement Disbursements
Trusts
Royalties
Adoption Subsidies
Student Stipends
and more!

Additional options include having a family member with stable income co-sign or using the “asset depletion” program, which means you have enough savings/investments to pay your mortgage and other bills with monthly withdrawals.

Since the requirements will vary based on everyone’s unique situation, I recommend scheduling a custom consultation to review your goals, budget and qualifications in more detail.

We will provide you useful and timely information you can use to be #financiallyfearless