Stated income

Definition

A document specification that requires the lender to confirm the borrower's source of income, but not the total amount earned.

Use Stated income in a sentence

I had to get my stated income ready because other people needed to know it and figure it out for me.

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You should always make sure that you correctly give your stated income so that others can help you out from that.

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When filling out a loan form it will be necessary to enter your stated income so the bank may be assured you have a means for paying back the loan.

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