Artists and Mortgages: Creative Financing Solutions

By | December 9, 2023

Artists, known for their creativity in their professional work, often face unique challenges when it comes to securing mortgages. The irregular income and non-traditional employment status common in the artistic community can make traditional mortgage routes less accessible. However, innovative and creative financing solutions are emerging, tailored to the unique needs of artists. Here’s a look at some of these inventive approaches.

Income Averaging for Mortgage Approval

Some lenders are now considering income averaging for artists. This method involves taking an average of the artist’s income over several years rather than looking at the most recent year alone. This approach acknowledges the fluctuating nature of artists’ earnings and offers a more realistic picture of their financial stability.

Portfolio Mortgages for Artists

Portfolio mortgages are becoming a popular option for artists. These are non-traditional loans where the lender looks at the borrower’s entire portfolio of assets and income sources, rather than just their credit score and traditional income. For artists with solid investment portfolios, valuable artwork, or consistent revenue streams from royalties, this can be an ideal solution.

Crowdfunding and Community Support

Some artists turn to crowdfunding platforms to gather a portion of their down payment. By sharing their story and artistic journey with a wider audience, artists can garner support from those who value art and wish to support the artistic community. This approach not only raises funds but also strengthens the bond between artists and their audience.

Artist Cooperatives and Shared Equity Models

Artist cooperatives are emerging as a viable solution for artists seeking homeownership. These cooperatives involve a group of artists pooling their resources to buy property. Shared equity models, where artists own a portion of their home while the rest is owned by an arts organization or a housing cooperative, are also gaining traction.

Grants and Subsidized Housing Programs for Artists

There are grants and subsidized housing programs specifically designed for artists. These programs recognize the cultural value artists bring to communities and offer more accessible housing options. By providing affordable living and working spaces, these programs help artists secure homes and continue their creative work.

Lease-to-Own Agreements for Artists

Lease-to-own agreements can be particularly beneficial for artists. Under these agreements, artists rent a property for a set period, after which they have the option to buy it. Part of the rent paid during the lease period goes towards the down payment, making the eventual purchase more manageable.

Combining Artistic and Commercial Ventures

Some artists successfully secure mortgages by combining their artistic work with more commercial ventures. For instance, an artist might open a gallery or a studio that serves as both a workspace and a source of steady income, making them more attractive to lenders.


The path to homeownership for artists might be less conventional, but it’s certainly not impossible. By leveraging creative financing solutions and taking advantage of programs specifically designed for the artistic community, artists can overcome the challenges of irregular income and secure a mortgage. These innovative approaches not only empower artists to own homes but also reinforce the essential role of art and creativity in enriching our communities.

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