can you get a house without a job

can you get a house without a job

Can You Get a House Without a Job?

Getting approved for a home loan without a job isn’t impossible, but it is admittedly very difficult. Banks usually require you to have a steady source of income in order to be approved for a loan, and being employed is the most traditional way to demonstrate this. But there are a few alternatives you can explore if you don’t have a job.

COVID Relief Loan Programs

In the wake of the COVID-19 pandemic, several relief loan programs have been established that make it easier to get approved for a mortgage – even if you’re unemployed. Provisions such as relaxed down payment requirements, loan refinancing and extended forbearance can help borrowers who are facing financial hardship due to a reduction in employment.


Veterans can qualify for a VA loan, backed by the U.S. Department of Veterans Affairs. VA loans do not require borrowers to have a job, though you must generally prove that you have other sources of dependable income and demonstrate that you are able to make regular payments on the loan.

Home Equity Loans

If you still own your home, you can apply for a home equity loan. It is based on the value of your home, which also serves as collateral. Home equity loans do not require you to have a job, insofar as you demonstrate that you have the means to make the payments.

Other Options

Other sources of income that you can use to qualify for a loan include:

  • Social Security. Social Security income can be used as steady income, though you will likely need other income sources as well.
  • Child Support. If you have dependable income from sources such as child support, you can use this to demonstrate your ability to pay.
  • Retirement Income. If you are retired, a lump sum distribution from a retirement account can be used to qualify for a loan.
  • Investments. If you have investments such as stocks, bonds, or mutual funds, you can use these to prove financial stability.
  • Co-Signer. You can use a co-signer to help secure the loan, as long as that person has stable income.

Getting a loan without a job is not an easy task, but it is possible – provided that you can prove that you have other sources of stable income and demonstrate your ability to repay the loan. Exploring loan options such as COVID relief programs, VA loans and home equity loans can help in this quest.


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