What Is a Letter of Income Verification, and When Do You Need One?

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Looking for a new place to live is a process that can take its fair share of planning. You'll want to set a budget, determine the features and layout you need, research neighborhoods and start touring homes — among plenty of other steps. Once you've found your dream place, you're one key stage closer to getting everything finalized and making your move. But you'll need to get quite a few things settled before you're in the clear, including some important paperwork. 

Whether you're looking to buy or rent a new house or apartment, you might have already started bracing yourself for the paperwork the process typically entails. Some of these documents are pretty straightforward and customary, like a lease  or a mortgage application. But before you reach that point, a few lesser-known documents can also come in handy — including a letter of income verification. We'll help you get a handle on what a letter of income verification is, how it's beneficial and when you'll need one, all so you can navigate the process smoothly.