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