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Self Employed? How to Navigate Home Buying or Renting

Finding a new home can be intimidating for everyone, but it can be increasingly so for homebuyers who are self employed. Common challenges come from proving that you have a steady income, especially when you don't have employment letters or pay stubs on hand. With some careful planning, it can be much easier to navigate an already stressful process and find yourself a new place without breaking too much of a sweat.


  • A few years of tax returns
  • Self prepared profit and loss statement
  • A business license
  • Audited financial statements
  • Signed documentation from a CPA (Chartered Professional Accountant) verifying your business
  • Employer's liability insurance
  • Signed documentation from clients including date and type of service provided 


A high credit score can demonstrate your ability to pay off debts and be responsible with money. Aim to already have or establish a consistent track record for prospective landlords and lenders. You can keep your credit in check by keeping credit card balances low, paying accounts in time, and avoiding applying for other credit lines while you're applying for a mortgage.


Keeping your accounts organized and separate helps lenders determine your business expenses and income more efficiently. Business expenses that are paid through a business account might not be held against you, since it's an asset for the business. On the flip side, be careful with deductions on business expenses, as this lowers your overall taxable income, which can hurt your chances when applying for a home loan.

Home buying is never easy, but keep these tips in mind when making your next significant life decision!

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