If you have enough home equity, you might be able to take out a home equity loan or home equity line of credit (HELOC). Think twice before taking out this type of loan without a job. If you’re unemployed and can’t afford to repay the loan, avoid this option.

If you don’t have a job, it might be hard to get a home equity loan or HELOC — you might not meet the lender’s income requirements. However, you might be able to qualify for a home equity loan if you have other sources of income.

It’s definitely possible to apply and get approved for a loan even if you do not have any proof of employment or income. Sometimes desperate situations call for desperate measures, and taking out a short-term loan may be your best bet.

No-income loans require you have some alternative method of paying the loan back with interest. Lenders will want to see your credit history, bank accounts, and proof of any assets to demonstrate that they will get their money back. For instance, if you recently retired, you have no income from employment.

30 Year $75,000 Mortgage Loan

To qualify for a $75,000 personal loan, you’ll likely need good to excellent credit, steady income, and a relatively low debt-to-income ratio so the lender knows you can comfortably afford the payments.

How much would the mortgage payment be on a $75K house? Assuming you have a 20% down payment ($15,000), your total mortgage on a $75,000 home would be $60,000. For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $269 monthly payment.

For example, the total interest on a $30,000, 60-month loan at 4% would be $3,150. So, your monthly payment would be $552.50 ($30,000 + $3,150 ÷ 60 = $552.50).

A $30,000 car, roughly $600 a month.

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