is it possible to get a mortgage without a job

is it possible to get a mortgage without a job

Getting a Mortgage without a Job

Are you unemployed or self-employed but want to buy a property? You might still be able to get a mortgage without a job.

Options to Consider

If you don’t have a job but want to get a mortgage, here are some options to consider:

  • Family and Friends: Ask family or friends for help. You or the property owners may be able to contribute to the equity. This helps to reduce the amount of mortgage you need.
  • Gift Money: Get a gift from a family member or friend to help build your downpayment. Lenders often require documentation if the money gifted is over $1,000.
  • Insurance Claims: Use an insurance claim settlement from an accident to have a downpayment. This can be in cash or other forms. Your lender may require you to wait for a certain period after the settlement.
  • Crowdfunding: Crowdfunding is getting help from the public through social media or crowdfunding platforms. You may be able to get a loan or a small investment to help you with the mortgage.

Applying for a Mortgage without a Job

If you do decide to get a mortgage without a job, here are some tips to increase your chances of getting approved:

  • Show Equity: Lenders will look more favorably on someone with enough cash or equity to put down more than 15% of the purchase price.
  • Have Liquid Assets: Showing assets allows the lender to feel more secure about the risk they’re taking. Having very liquid assets makes it easier for them to calculate the risk.
  • Keep Building Your Credit: A good credit score can be a big help when you’re trying to get a mortgage. Keep building your credit by paying your bills on time and avoiding excessive debt.
  • Use a Co-Signer: Bringing in a co-signer can be a good solution if you don’t have enough credit or equity. The co-signer takes on some of the risk by guaranteeing the loan.


Getting a mortgage without a job can be difficult, but it’s not impossible. Consider your options and work on building your credit so that you’re in a better position to get a loan. With enough preparation, you should be able to get the mortgage you need.


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