Income Verification for Employed Persons
September 9, 2008 7:43 am Employed Persons, Proving incomeWhen getting financing from a lender the easiest way to smooth the entire process is to get all required paperwork to me as soon as you can. If possible even before you submit anything to the lender.
One of the typical lender conditions we need to satisfy is “Income Verification”.
For employeed people this typically means a recent pay stub and a job letter .
The paystub is easy to satisfy. Simply send it to me and usually this condition is met.
The job letter is also easy but brings one other person/department into the process. You need to request a job letter from your boss or your employer’s HR department. This job letter must show your job title, your start date and either an annual salary or an hourly salary with the number of hours you work per week. It is also best if it is on your employer’s letterhead.
Most HR departments can put this information together for you in a business day or two.
I suggest to all my customers to get this data as soon as they can. By getting easy paperwork together at the beginning of the process everything will go significantly smoother.
If you have any further questions about this or any other topic please contact me.
