Need a loan? Underwriters need to verify your income. A “W-2 Promotion Sample Letter” confirms your income boost. It proves you’ve stepped up the career ladder.
Crafting this letter can be tricky. Don’t worry, we’ve got you covered. We will share templates and examples. These samples will make your life easier.
This article is your go-to resource. We provide various samples. Use these samples as a guide. Write the perfect letter with ease.
W-2 Promotion Sample Letter To Loan Underwriter
[Your Name/Company Name]
[Your Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
[Date]
[Loan Underwriter’s Name]
[Loan Underwriter’s Title]
[Lender’s Name]
[Lender’s Address]
[City, State, Zip Code]
Subject: Verification of W-2 Income and Promotion – [Employee’s Name]
Dear [Loan Underwriter’s Name],
This letter is to confirm the employment and income of [Employee’s Name], whose Social Security Number is [Employee’s SSN] and date of birth is [Employee’s DOB]. [Employee’s Name] has been employed with us since [Start Date] and is currently working in the position of [Current Position].
[Employee’s Name]’s current annual base salary is $[Current Salary].
Furthermore, I would like to inform you that [Employee’s Name] was recently promoted from [Previous Position] to [Current Position] on [Date of Promotion]. This promotion resulted in an increase to their annual salary.
Attached to this letter, you will find copies of [Employee’s Name]’s W-2 forms for the past two years, as well as recent pay stubs. These documents should provide further verification of their income history.
If you require any further information or clarification, please do not hesitate to contact me directly.
Sincerely,
[Your Name]
[Your Title]
How to Write W-2 Promotion Sample Letter To Loan Underwriter
Subject Line: Conciseness is Key
- Employ a succinct subject line, for instance: “W-2 Promotion Verification – [Employee Name] – [Loan Application #]”.
- Avoid ambiguity; the underwriter should immediately grasp the letter’s purpose.
Salutation: Establish Credibility
- Address the underwriter by name if known, enhancing a personalized rapport: “Dear Mr./Ms. [Underwriter’s Last Name],”.
- If the name is elusive, a formal “Dear Loan Underwriter,” suffices.
Introduction: Laying the Groundwork
- Begin by unequivocally stating the purpose of the letter: “This letter serves as verification of [Employee Name]’s promotion within [Company Name].”
- Include the employee’s hire date and current position title to provide context.
Body Paragraph 1: Detailing the Promotion
- Specify the employee’s previous position and promotion date.
- Elaborate on the nuances of the promotion, outlining the new position’s responsibilities and augmented duties.
- Quantify any salary augmentation resulting from the promotion; precision is paramount.
Body Paragraph 2: Future Earning Potential
- Provide a forward-looking statement regarding the employee’s future earning potential.
- Include the employee’s new annual salary or hourly rate, substantiating it with pertinent data.
- Avoid speculative projections; stick to factual, verifiable information.
Supporting Documentation: Reinforcing Authenticity
- Indicate any enclosed supporting documents, such as the employee’s updated pay stub or promotion announcement.
- This bolsters the letter’s veracity and expedites the underwriter’s due diligence.
Closing: Professional Demeanor
- Conclude with a professional closing, such as “Sincerely,” or “Respectfully,”.
- Include your full name, title, and contact information (phone number and email address).
- Offer your availability for further clarification, demonstrating a cooperative disposition.
Frequently Asked Questions: W-2 Promotion Sample Letter for Loan Underwriters
This section addresses common questions regarding the use of a W-2 promotion sample letter when applying for a loan. Understanding the nuances of this documentation can significantly impact the loan approval process.
What is the purpose of a W-2 promotion sample letter?
The letter serves as official confirmation from your employer regarding a recent promotion, often including details about your new role, salary increase, and effective date. This helps the underwriter assess your current and future income stability.
Who should provide the promotion letter?
Your employer’s Human Resources department or your direct supervisor is typically responsible for drafting and providing the promotion letter on official company letterhead.
What information should be included in the letter?
The letter should include your full name, the effective date of the promotion, your new job title, your new salary (both annual and any other relevant pay structures), and contact information for the person providing the letter.
When should I submit the promotion letter to the loan underwriter?
Submit the letter as soon as possible after your promotion is official and you have received it from your employer. This allows the underwriter to promptly incorporate the updated income information into your loan application.
What if my employer is unable to provide a promotion letter?
If a formal letter is not possible, alternative documentation such as an amended employment contract, pay stubs reflecting the increased salary, or a written verification from your employer may be acceptable, though the underwriter’s discretion applies.
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