How to Get Approved Without a 9-5 Job
Buying a home without a traditional 9-5 job might feel like an uphill battle, but it’s absolutely possible—and I’ve helped many clients in Raleigh do exactly that.
Whether you're a freelancer, business owner, creative professional, or gig economy worker, the key is showing financial stability in a different way. Lenders just want to know you’re a low-risk borrower—even if your paycheck doesn’t come from a boss.
If you’re dreaming of homeownership in the Triangle area but your income isn’t the “W-2 type,” here’s what you need to know.
1. Be Ready to Show Income History
Instead of a pay stub, you’ll likely need to provide two years’ worth of tax returns that show consistent—or growing—income. Lenders want to see that your self-employed income is reliable, even if it fluctuates from month to month.
Pro tip: If your income dropped during a slow year (like COVID), write a short explanation and show recent bank statements that reflect improvement. Transparency builds lender trust.
2. Keep Your Business Finances Clean
If you run a business, keep personal and business accounts separate. Lenders will analyze your income after expenses—not gross revenue. Keeping clean, well-organized books and using an accountant can be a game-changer when it’s time to apply for a loan.
3. Strengthen Your Credit Score
Your credit score carries more weight when your income is non-traditional. Aim for a score of 700 or higher to boost your chances. Pay down credit cards, avoid new loans, and don’t miss any payments.
4. Save for a Stronger Down Payment
A larger down payment (think 10–20%) helps reduce lender risk and can improve your approval odds. It also shows you’re financially disciplined—something lenders love when your income path is outside the box.
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5. Work With a Lender Experienced With Self-Employed Buyers
This is one of the most important tips I can give. Not all lenders understand the nuances of freelance or business income. I’ve built relationships with Raleigh-area lenders who specialize in working with self-employed clients and know how to package your financial picture the right way.
Let me connect you with the right mortgage pros who understand how to navigate this path.
6. Consider Alternative Loan Programs
There are loan options specifically designed for self-employed buyers, like bank statement loans or asset-based loans. These don’t rely on W-2s or tax returns but instead focus on your deposits or assets. While these may come with higher rates or fees, they open doors where traditional loans can’t.
Raleigh-Specific Tip: Know Your Budget Based on Net, Not Gross
In high-demand Raleigh neighborhoods like Five Points or Glenwood South, home prices can escalate quickly. As a self-employed buyer, it’s crucial to budget based on what you net, not what you gross. I’ll help you align your housing search with your lender’s approval range so you stay competitive without overextending.
How Phil Slezak Real Estate Can Help You
At Phil Slezak Real Estate, brokered by LPT Realty, we do more than just help you find a home—we make sure your entire moving process is stress-free and seamless. Whether you’re buying, selling, investing, or relocating, we have the resources, expertise, and connections to guide you every step of the way.
Why Work With Us?
✔ Exclusive Off-Market Listings – Get access to homes before they hit the market.
✔ Zero-Commission Selling Options – Save thousands when selling your home.
✔ Relocation Assistance – We connect you with the best movers in Raleigh for a smooth transition.
✔ Buyer Home Guarantee – If your home isn’t perfect, we’ll sell it for zero listing commission.
✔ Sold Zero Commission – Maximize your profits with no listing commission when selling your home.
✔ Cash Offers – Get 4 cash offers on your home in minutes
Conclusion:
You don’t need a 9-5 job to own a home in Raleigh—just a strong financial plan, the right lender, and a Realtor who understands your unique situation. I’ve helped business owners, freelancers, and creatives buy their dream homes with confidence and clarity. If you’re earning outside the traditional box but ready to invest in Raleigh real estate, let’s put a smart plan together that gets you to the closing table—without stress or confusion.
📲 Want expert advice on your next move?
📞 Call or text me at +19196074844 or connect with me on social media. I help people just like you every week make smart real estate decisions—let’s chat about yours!
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