Are you going to apply for a mortgage loan to finance a new home? Here’s one important fact that you shouldn’t take for granted: mortgage lenders don’t provide home loans to just anybody. Of course, they have to keep their business going, so they have to be sure that their customers are paying back the money that’s loaned to them.

If you’re interested in getting a mortgage loan, you have to meet the lender’s requirements to be able to qualify for the amount you aim to borrow. In general, mortgage providers require borrowers to give down payment, which can range from 3 to 20 percent of the total cost of a property. Your possible monthly mortgage payment must not be more than one-third of your monthly income to qualify for a loan. And to prove that you can repay your mortgage, you must be able to show the lender that your credit score is good and that you have been employed for at least two years.

But what if you don’t have all those requirements? Don’t worry-it doesn’t mean the end of the road for you. Still, there are other ways you can do to make yourself qualify for a mortgage loan.

1. Seek help from a mortgage broker. A qualified broker may help you find a lender that can grant you a loan. Since brokers represent many mortgage providers, they know which ones can provide loan to which you can qualify for. You will pay a certain fee for the broker’s services, but it will be worth it once you are able to get a loan.
2. Consider getting a co-signor. If you can’t qualify for a loan because your income falls short of the required minimum income, then you can opt to have someone co-sign a loan for you. Your parents, spouse, or close friend whose income is higher and credit score is better than yours can be your co-signor. The lender will then combine your income so that you will qualify for the loan. The loan will still be yours, so it’ll be your sole responsibility to repay it regularly. But once you fail to make repayments, your co-signor will be required to repay your loan.
3. Have your family member or friend buy the home in their name and then rent to own it from them. This is the alternative in case none of your family members or friends is willing to co-sign a loan for you. For example, if your close friend has the money to buy a house, you can rent it with an option to buy, which means you will pay for the mortgage, insurance, taxes, and maintenance costs as your rental fee.
4. Plan your finances. If none of the above suggestions work, then your last resort is to prepare your finances so that you can qualify for a loan next time.