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You quit your job but what about your mortgage?

How indiehackers manage their finances is something I'm always interested in, but here's one specific question...

To Indiehackers who quit their jobs to bootstrap their own idea, how are you getting a mortgage?

I realise you probably made sure you have savings enough to pay bills and mortgages for X amount of months. But if you're bootstrapping then I guess you are just not re-mortgaging to get the best rate and not planning to move house anytime soon...

  1. 4

    We bootstrapped until we saw there was some traction, having mutually agreed we'd go full-time at $120k ARR. We ended up going part-time around $60k ARR, contracting 2/3 days a week to cover any shortfall in salary.

    Bootstrapping doesn't need to be a do/die. It's worth speaking to your employers as to whether they'll consider flexible working or looking out for short-term contracting gigs to soften the blow.

    We made the transition from employee to founders without really losing a significant amount of annual income.

  2. 1

    I find in Australia as long as you have a job you can get a mortgage even if you started it yesterday- so just time getting the loan or refinance for when you are employed

  3. 1

    Agree. You can mix and match your financial resources, doing some freelance work 2/3 days a week and some stable MRR works well to.

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