Verification Letter Of Income

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Verification letter of income. An income verification letter is a formal letter. An income verification letter is often needed when an individual is trying to qualify for a specific type of loan such as a housing loan or an automobile financing loan. The letter will verify your ability to meet your financial responsibilities. It s given by an employer when an employee requests for it.

The letter is required by many banks and financial firms to ensure that a borrower is eligible for the loan based on his or her source and amount of income. You need it to verify if information about the employee s salary is accurate. An income verification letter also gives the lender an idea of what type of payer the borrower will be. Such a document is very important.