CPA Letter for Apartment Rental or Home Purchase

There has been an increasing trend of banks, landlords, and/or lenders asking self-employed individuals for letters from a CPA to verify, certify, vouch for, or attempt to estimate the applicant’s income. This income statement is then assessed by the lender when determining whether the loan should be approved. Some examples of requests (variable wording but roughly the same request) include:

CPA-certified letter projecting income
CPA letter verifying income is consistent with prior years
CPA verification of employment
CPA verification of income
Financial projection/estimate
CPA Income Projection
12 or 18-month Income Projection
A financial statement signed by CPA
Statement of Net Worth

Sometimes, the lender also requests this CPA letter to be notarized (the CPA must sign in front of a notary).

With the right disclaimer, it is possible to both meet the paperwork and compliance needs of the bank while also preserving the integrity of the CPA.

The types of persons being asked for such types of letters include:

Contractors
Those paid on 1099
Persons owning a single-member LLC or other small business
Freelancers
Self-employed individuals