Buying a house without a fixed income requires leveraging alternative income sources, securing a co-signer, and exploring flexible loan options. Key strategies include documenting irregular income through tax returns, freelance contracts, or rental property cash flow, using a co-signer with steady income to meet credit and debt-to-income requirements, and opting for adjustable-rate mortgages (ARMs) or loans with income-based repayment terms. Down payment assistance programs and community land trusts can also reduce upfront costs.

The Federal Reserve’s 2022 Survey of Consumer Finances found that 40% of U.S. homebuyers used non-traditional income documentation, such as gig work or self-employment, to qualify for mortgages. Co-signers are critical, as they can boost credit scores and loan approval chances. For example, Fannie Mae data shows loans with co-signers have a 25% higher approval rate than those without. Adjustable-rate mortgages, which start with lower rates, accounted for 18% of U.S. home purchases in 2023 (MBA, 2024), helping buyers manage fluctuating income. Down payment assistance programs, including FHA loans and state-specific grants, cover up to 50% of purchase costs in 45 states, per the National Association of Homebuyers. These tools collectively enable 35% of first-time buyers with unstable income to achieve homeownership, per the U.S. Census Bureau (2023).