Proof of Income

  • General Requirements (applies to all forms of POI)
  • Your name must be on the document
  • Employer name or income source must be on the document
  • Pay period end (pay stubs) or document date must be within 30 days of purchase unless otherwise noted
  • Provide Proof of Income for each income source you are using on the application
  • ALL BUYERS ON THE APPLICATION MUST PROVIDE PROOF OF INCOME
  • Pay Stub - Full time hourly or salaried
  • Most recent Pay Stub
  • If purchasing before April 1 and you want to include commission, tips, or overtime you must also provide last year’s W2 or last pay stub
  • Pay Stub - Part time or second job
  • Minimum six continuous months with the same employer
  • If purchasing before June 30 of the current year you must provide a current pay stub and last year’s W2 or last pay stub
  • Pay Stub - Temporary or staffing agency
  • Minimum six continuous months with the same agency
  • If purchasing before June 30 of the current year you must provide a current pay stub and last year’s W2 or last pay stub
  • Pay Stub - Business owners and self-employed individuals that receive a pay stub
  • If you are self-employed and pay yourself with a pay stub you must also provide the three most recent pay stubs accompanied by personal bank statements in your name showing the matching three deposits, or you may use one of the options listed below under Business Owner / All Self-employed / 1099
  • Business Owner / All Self-employed / 1099 (Provide either of the following):
  • Most recent two years complete signed tax returns including Schedule C
  • Must be prepared and signed by a professional tax preparation service
  • Most recent three months consecutive complete personal bank statements from the same bank
  • If 1099 for a company may also provide
  • Cancelled checks (front and back) from prior three months
  • Business Owner – S Corporation (Provide either of the following):
  • Most recent two years complete signed tax returns including Schedule C
  • Must be prepared and signed by a professional tax preparation service
  • Most recent three months consecutive complete personal bank statements from the same bank
  • Rental Income
  • Most recent two years complete signed tax returns including Schedule E
  • Must be prepared and signed by a professional tax preparation service
  • Military Leave and Earnings Statement (LES) for active duty personnel
  • Most recent LES
  • Military Leave and Earnings Statement (LES) for military reserve
  • Most recent LES (and prior year’s last LES if before July 1)
  • Need six months continuous service and pay history

  • For the following nine income types provide
  • A document from Category A: Proof of Eligibility
  • AND
  • A document from Category B: Proof of Receipt

  • Category A: Proof of Eligibility (not required to be dated within 30 days of purchase):
  1. Retirement / Pension
    • Most recent eligibility letter from employer
  2. Disability Insurance
    • Most recent award letter stating disability status and amount received
  3. Social Security (SSI/SSB)
    • Most recent eligibility letter from Social Security Administration
  4. Investment Income (Structured Settlements, Annuities, etc.)
    • Most recent award letter or court document stating amount to be received
  5. Public Assistance
    • Most recent award letter stating award status and amount received
  6. Foster Care
    • Most recent award letter for each child showing applicant name and child name
  7. Alimony*
    • Complete divorce decree / court order
  8. Child Support*
    • Complete divorce decree / court order / custody agreement
  9. Separate Maintenance*
    • Complete separation agreement / court order
  • Category B: Proof of Receipt (provide one of the following dated within 30 days of purchase):
  • Most recent monthly statement from the income source (e.g. Social Security Administration, monthly statement from government agency or courts, etc.)
  • Most recent three months consecutive complete personal bank statements showing deposits that match the award letter, court order, or court-issued document
  • Cancelled checks (front and back) from prior three months

*Alimony, child support, or separate maintenance income need not be revealed if you do not wish to have it considered as a basis for repaying this obligation

Reviewed 01/15/14