Income Verification Letter Purpose &Where to Get it?

By Grace

Income verification letter is usually requested by an employee to his employer for applying a bank loan, car loan, house loan or any type of loan. Why the lending companies want proof of income? This is to verified and confirmed that you wrote the real amount of your gross income per year. Also, the income verification letter can use by the lending institutions to know if you are really working for a specific company. It also help the lending companies to analyze if you are capable to pay for the amount of money you are borrowing.

Maybe you asked how can I get income verification letter? I am afraid because someone especially the human resource manager will ask me “where to use income verification letter”. It’s your right to know your exact income including bonuses. You don’t have to be afraid when requesting proof of income letter.

See Also: How to Get Rich Without Education?

Income Verification Letter, Where to Get It?

Now you know the purpose why lending companies, banks and other financial institutions wants you to request a income verification letter. It’s time to find out, where to get it.

w-2 Form attached in income verification letter

Image Credit: 401(K) 2012 on Creative Commons 2.0 via Flickr

  • The income verification letter can be requested in the human resource department.
  • Do not forget to attach your “pay slip”. In the pay slip, your monthly income is indicated. Your gross income and deductibles is indicated in your pay slip.
  • Also, inform the human resource department to attach your w-2 Form
  • Prepare at least 3 payslip for the previous months.

Always remember that anyone can request a income verification letter to the human resource department of the company they are working.

Did you experience requesting income verification letter? Hpw long does it takes to get one from HR? Where did you use the proof of income letter? For applying for a loan or for just applying for a credit card? Share your experience in the comment box below. Thank you.

 

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