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How to Buy a Home when You’re Self Employed

Daniele S. Gordon | November 24, 2022

 
It’s true! Self-employed folks have to maneuver a little harder to get a home loan, but the end result is what really matters, right?
 
Here are a few key moves to make that will increase your chances of a mortgage approval:
 
  • Register and license your business
  • Pay yourself a W-2 wage rather than an owner’s draw
  • Lower your debt load
  • Reduce your tax deductions
  • Keep separate business and personal accounts
  • Maintain good records
  • Consider making a larger down payment
  • Consider working with another small business, such as a local credit union or mortgage company
 
Call me so that we can discuss your opportunities to own your own home!

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