If you think the freelance community here in America is small, think again. A new study released by the Freelances Union and Elance-oDesk found that 34 percent of the American workforce is doing freelance work.

This kind of self-employed or part-time status can make it difficult to qualify for a mortgage. But it doesn’t make it impossible. With the right preparation, you can qualify for a mortgage without working the standard 9-to-5.

Clearly Show Your Earning History

At a minimum, you’ll need to show two years of income high enough to afford the mortgage you are seeking. Additionally, it’s best to be able to show you have increased your earnings year after year. This means, your earnings report for 2015 should be higher than your earnings report for 2014.

Bring the Bacon

As is the case with any other borrower, the more you put down, the better. Ideally, you’ll want to put down a full 20 percent. This will make you more trustworthy.

Have a Solid Credit Score

Your credit score is one of the key elements to proving how trustworthy you are as a borrower. A direct reflection of your credit history, it gives lenders insight into how successful you have been at taking on and paying off debt.

Show Your Savings

Because your earnings can fluctuate, a rainy day fund is ideal. In the event you have a slow month, these liquid assets can help ensure you can smake your monthly payment.

Highlight Your Track Record

Do you consistently make your rent payments on time and in full? Awesome! This can help you show lenders you’re able to establish a monthly budget and keep to it. You can do so by showing your lender rent stubs and a letter from your landlord.

Consider a Co-Signer

Co-signing isn’t without its hiccups – namely finding someone who is willing to attach their credit to your own. However, a co-signer can help you qualify for a mortgage which you might not be able to receive otherwise.

Ready to get pre-approved? Contact me today.