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