Amidst the thriving gig economy, you may be surprised to know that there are many people today who seek a mortgage without having full-time employment. Gig economy implies to professionals who work freelance, independent contractors or people who work for companies like AirBnB, Uber, Skip the Dishes, etc. If you have ever provided services through these apps, you have participated in the gig economy as a temporary worker.

In today’s world, freelance careers have become extremely common and many people are turning towards becoming a freelance professional rather than serving in a company. Although freelance work provides ample benefits like flexible schedules, earnings, etc., one thing that they don’t help is getting a mortgage. Getting a mortgage without employment is extremely difficult, but not impossible. Here are a few tips to get a mortgage when you are without a full-time job.

Part-time employment

It is possible that even though you are not a full-time employee, you may be working for a company as a part-time employee or are on an employer’s payroll. In terms of listing your employer and salary, this will still be helpful and will fulfil the criteria of the traditional mortgage application process, so long as your part-time salary is sufficient for the amount of mortgage you are seeking.

Income stability

Even if you don’t have a regular job, you can still exhibit a fairly stable income through the gig economy. Furnish your bank statements to show that you are earning nearly the same amount every month. If you have been a freelancer for a long time, it should be easy to establish steady earning levels. Exhibit at least two years of steady freelance experience to help get a mortgage approval.


If you can exhibit numerous sources of income from different trades, it helps to build your application. For instance, if you are a freelance writer but also work as a driving instructor and as a freelance foreman at the same time, it exhibits your proficiency in multiple trades and can add to your application’s credibility.


Lenders rely heavily on your tax returns to decide what kind of income you have. Make sure to file your taxes on time and adequately. In addition, make sure that your net income is shining through. As freelancers, most of us think about deducting our expenses heavily to show as work expenses, but it reduces your net income, which is detrimental to your mortgage application if you are a freelancer. Balance your income and expenditures properly to show a shining net income.

Credit score

No matter how much you earn, what assets you have or any other parameter that you can exhibit for landing a good mortgage, your credit score is a make or break factor. Make sure to pay your bills on time, use your credit cards efficiently and build a good credit score.

If you are a first time home buyer, contact Mortgage Makers – Edmonton’s best mortgage brokers for advice and guidance on mortgage rates, refinancing and debt consolidation.