how can you buy a house without a job

how can you buy a house without a job

Buying a House Without a Job

It’s possible to buy a house even if you don’t have a job or a steady source of income. You can accomplish this by either saving a large down payment or giving the bank an alternative asset as collateral. Here are several ways to buy a house without a job:

Option 1: Self-Employment & Exploring Non-QM Loans

If you’re self-employed, a bank may accept your tax returns or an income statement to verify your income. You can also get a Non-Qualified Mortgage (Non-QM) loan, which is a loan that doesn’t fall into the standard parameters of a qualified mortgage. This type of loan may be more expensive and will require higher credit scores and higher down payments, but it will allow you to buy a house even if you don’t have a job.

Option 2: Gifting a Down Payment and Asset Collateralization

Another option is to have a family member gift funds for a down payment. You’ll need at least 10% of the purchase price and the gifter must provide proof of the source of funds. Banks may also accept other assets such as stocks, investments, and 401K funds as collateral.

Option 3: Borrowers with Substantial Savings

You can also buy a house without a job if you have a substantial amount of savings in the bank. The bank will often require you to prove your savings and will want you to have a two-year buffer between income and expenses.

Option 4: Cosigning with a Relative

If you don’t think you can meet the lender’s requirements for approval, you can cosign with a relative. The relative must have good credit and sufficient income to qualify for the loan, and they will be responsible for the loan if you can’t make the payments.


It’s possible to buy a house without a job, but you’ll need to explore all the options available to you. You might be able to qualify for a Non-QM loan, or you can use a gift for a down payment and use other assets as collateral. You can also borrow with substantial savings or cosign a loan with a relative. No matter which option you choose, make sure you do your research and shop around to find the best loan for your situation.


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