Income Sources
Credit should reflect how people actually earn money.
Credit Should Reflect How People Actually Earn Money
Not every borrower receives a traditional salary. CreditRefPro supports multiple income sources so borrowers can present a more complete financial profile.
Salary and Wages
- Basic salary
- Hourly wages
- Regular allowances
- Recurring commissions
- Contract employment income
- Other recurring employer payments
Evidence may include payroll records, payslips, employment confirmations, tax records, or bank statements.
Rental Income
- Residential rent
- Commercial rent
- Ground rent
- Lease income
- Short-term rental income
Evidence may include leases, rent rolls, property-management statements, bank deposits, tax records, ownership records, and tenant payment history.
Business Income
- Sole-proprietor income
- Partnership distributions
- Owner compensation
- Professional-services income
- Contracting income
- Recurring company distributions
- Other business income
Evidence may include bank statements, tax records, financial statements, contracts, invoices, sales records, and payment histories.
Interest Income
- Bank deposits
- Bonds
- Treasury securities
- Private notes
- Other interest-bearing assets
Dividend and Distribution Income
- Public-company dividends
- Private-company dividends
- Fund distributions
- Partnership distributions
- Trust distributions
Pension and Retirement Income
- Government pensions
- Employer pensions
- Annuity payments
- Retirement-account distributions
- Other recurring retirement benefits
Other Recurring Income
- Royalties
- Licensing income
- Trust income
- Government benefits
- Agricultural income
- Maintenance or support income
- Digital-platform income
- Recurring contractual payments
Each participating lender determines which income sources it accepts and what supporting information it requires.
Know the Strength of Every Income Record
CreditRefPro clearly separates declared income from documented and confirmed income.
The four verification levels, weakest to strongest:
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Declared
The borrower has entered the income, but no supporting evidence has been reviewed.
-
Documented
The borrower has provided supporting documents.
-
Source-Confirmed
An employer, property manager, business, accountant, bank, or other recognized source has confirmed the information.
-
System-Verified
The information has been confirmed through an authorized data connection.
A record may also be in one of these states:
- Under Review
- The supporting information is being reviewed.
- Expired
- Previously confirmed information is no longer current.
- Rejected
- The information did not satisfy the applicable verification requirements.
Each record shows the source, method, reviewer, and date of verification.
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