Proof of Income

I often have people ask me about proof of income, what does it mean, etc. so I thought I'd write a quick article to provide a little more information for my customers they can read at their leisure to learn more about what it is exactly that I need.

Any of the following WILL work:
- Pay stubs from an employer (most recent 60 days)
- Bank Statements (most recent 90 days) - This must be the monthly statement, not simply a print up of your account activity.  There is one page of your statement I'm looking for.  It is the page that you would use to balance your check book.  It contains the "account summary" or "account at a glance" that lists a total of your deposits and withdrawals for the month, as well as your beginning and ending balance for the month.  It should also contain your name, the banks name, and your account number.  In this example, I'm looking for the part of your statement that contains item number 3 in the picture.
- W-2/1099/1040 for the last tax year

The following MIGHT work:
- An employment offer letter from a local company




The idea behind providing proof of income is that I am trying to use your recent past income to predict your future income.  Therefore, income not yet earned really does me no good.  Income you cannot document, such as tips or side job income paid to you in cash and not deposited in your bank account also does no good as it cannot be counted if it cannot be documented.

Students who receive all/most of their income from their parents can qualify, if their parents make regular deposits for them into their banking account.  They can use their bank statements to document the income they receive from their parents.  If you're a student who moves out of their apartment for the summer, and finds a new place in the fall when you return from home, ensure your parents continue making those deposits for you through the summer, as it can be hard to find housing without being able to document recent income.