Owning a Home With Part-Time Work and Irregular Income in Glendale, AZ

Where they were

Renee's lease was ending, and her family had always dreamed of owning a home. They wanted a permanent place in the area they preferred, with enough space for the household.

What was in the way

She had three concerns. She worked part time and her income was irregular, so she was worried about qualifying. She wanted a payment that stayed affordable. And her credit score was not yet strong.

Her lease was ending, so there was a deadline to work with.

What we did

1. We worked on her credit score. We worked on improving it as part of the plan.
2. We built the qualification around income she could document. Variable income is not unusable income, but it has to be documented and calculated under the loan rules. We did not treat every recent dollar as automatically countable.
3. We included a family member as a non-occupant co-borrower. Under the loan structure we used, a family member who would not live in the home joined the loan. A co-borrower can be a legitimate part of a loan when the program allows it and everyone clearly understands the responsibilities that come with it.
4. We focused the home search on the right fit. I used my background as both a real estate agent and a loan officer to coordinate the search, the qualification, and the loan process, so we looked at homes that gave her the right area, enough space, and a workable payment.

How it turned out

The purchase closed in about two and a half months. Her family moved from renting into a permanent home with the space they needed. It gave them stability, pride of ownership, and the ability to put down roots. Her new home is in Glendale, Arizona.

If this sounds like you

If you work part time, your income changes from month to month, or your credit is still catching up, it is worth finding out how a lender would actually count what you earn. Every situation is different, and whether a co-borrower is allowed depends on the loan program and the facts. Our first-time buyer page and Get Ready guide are good first stops, and you can book a short call to go through your own numbers.