Buying a House with Fiverr Revenue

[kim_talented]

I’m interested in purchasing a house for which I need a mortgage.



Will the bank accept my Fiverr revenue as part of my income and treat it like they would my salary?



What if Fiverr revenue was my only source of income? Would I still be able to get a mortgage if I showed them my credit card statements to demonstrate the amount of withdrawals/income I get from Fiverr?



Kim

[Guest matt_garry]

Yes the bank sees it as a legitimate business as long as you have a office address and preferably a company name. However most banks need a few years of earnings from any home business to justify a loan maybe less if you can prove you’re earnings are growing steadily.

[jrmkr1]

I think bank will not accept, because this income resource is risk averse.



Anyhow you can try to increase your income by investing your revenue somewhere such as stock market, forex,… etc.



If you have a bank account with good standing, then you can get a loan using it.

That is you can afford to get a loan on next year by saving your money into a bank account, and keep some good amount in the account.As an example, If you save 1000 on today and have withdrawn 900 when next week start, then it is not qualify to get a loan.

[Guest matt_garry]

Reply to @jrmkr1: I guess it depends on what country you are in but most banks only regard registered investment accounts not simple cash trading accounts as credible.

[briheartsbooks]

It can be hard for anyone to get a loan these days in the US, so your experience may vary from state to state, bank to bank, etc. You could probably get a short sale.