Can I Get a Mortgage Without a Job. No, you cannot get a mortgage without a job. Individuals must have a stable income to fulfil their financial obligations and repay their loans. However, they can still obtain it if they are self-employed or earn an income from other sources, and a job is not required for an individual to get a loan.
Individuals can repay the loan as a lump sum or with monthly payments. Some loans allow for partial payments, while others require full payment at the end of the term. The average repayment period for a loan is one to three years.
For example, graduates who take out loans typically repay their debt within three years. The individual can choose to make their repayment over a shorter period or spread it over a more extended period. No interest is charged on the loan, and the loan does not have to be repaid in full.
However, the individual must still refund the amount borrowed. The loan is typically due in instalments, but interest may be charged on the total amount borrowed at a specific rate per annum.