Ways to increase income before and after you buy
Lenders look at your ability to handle payments over time. That means income, stability and your debt-to-income ratio (DTI). You don’t have to change everything overnight, but small steps can add up.
Short term
Extra hours or a second role
Picking up overtime or a second job can help your cash flow right away. For many loan programs, variable income usually needs
a history over time to be fully counted for qualifying, but the extra cash can still help you pay down debt and build savings.
See how variable income may count
Use your space
Taking a lodger or sharer
Sharing housing costs with a roommate or co-buyer can dramatically change the numbers. In some cases, documented lodger income
may help with qualifying.
Explore sharing to buy
Medium term
Upskilling and certifications
Sometimes the best move is to grow your main income – training, certifications or a move to a better-paying role in the same field.
Lenders often like to see continuity in your overall career path.
Cash flow
Paying down the right debts first
Increasing income and lowering debt work hand-in-hand. Targeting high-payment or high-interest debts first can free up room in your budget
and reduce your DTI.
Check your current DTI
Simple plan to get from “here” to “ready”
Everyone’s starting point is different. Here is a general framework we often use:
- Use the Rent vs Buy and DTI calculators to see where you are.
- List your income sources and debts in one place.
- Identify 1–3 realistic ways to add income (extra hours, side work, sharing housing, etc.).
- Pick which debts to attack first, and how much extra you can send each month.
- Re-run your numbers every few months to see your progress.
When you’re ready for a one-on-one conversation, share your details on Get Your Plan and mention that you’d like help creating an income and DTI plan.