- Letters Employers Verification on Loan Applicant -

Employer's Verification on Loan Applicant letter

loan application is a document that provides the essential financial and other information about the borrower on which the lender bases the decision to lend. For a business loan, it normally requires a detailed business plan that includes current and projected (usually for 3 years, or for the period of the loan) income statement (profit and loss account), balance sheet, and cash flow statement. The applicant firm must specify the loan amount and purpose, period and means of repayment, and guaranties and/or collateral offered. For consumer loans, banks generally use standard forms for the applicant to fill-in the information. A loan application entails neither a pledge by the applicant nor a commitment by the lender. Also called credit application.

this business letter sample for employer's verification on loan applicant

[Date] [Employer's Name and Address] Dear [Name]: Re: Applicant: [Your name] Address: City: Loan No.: Escrow No.: I have applied for a real estate loan to be made by [Name of Mortgage Company]. I shall appreciate your completing the Employer's Verification below for their confidential use and forwarding it to: [Mortgage Company Name] [Mortgage Company's mailing address] Thank you for your consideration and prompt reply, as it will avoid many delays. Very truly yours, EMPLOYER'S VERIFICATION 1. Entered your employ: 2. Present Position 3. Present Monthly Salary: Gross Monthly Salary: Overtime: Bonus or Commission: How paid: 4. If Applicant is in Military Service, please report income on a monthly basis as follows: Base Pay: Quarters and Subsistence: Flight or Hazard Allowance: 5. Probability of Continued Employment: 6. Does Employee have Re-employment rights for: Sick Leave? [ ] Maternity Leave? [ ] 7. Other Remarks: The above information is furnished in strictest confidence to the Applicants request. Date: Employer: Title:

for legally format please see business letter format