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Vincent joined a company a few months ago as a software engineer. He has decided to apply for a home mortgage. He understands that the

salary he currently receives from his company is an important factor in obtaining this loan. Vincent recently received a personal financial
statement along with his salary. Which personal financial statement did Vincent receive that can be used as a consideration for the mortgage?
Vincent received a _______
along with his salary, which can be used as a consideration for the mortgage.

User Hashbytes
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2 Answers

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Final answer:

Vincent received a pay stub along with his salary, which is a document that provides a breakdown of his earnings and deductions. This pay stub serves as a proof of income for lenders when considering a mortgage application.

Step-by-step explanation:

Vincent received a pay stub along with his salary, which can be used as a consideration for the mortgage. A pay stub is a document that accompanies an employee's salary, typically each pay period, and details the wages earned for the pay period and year-to-date payroll. It often shows taxes and other deductions taken out of an employee's earnings. Lenders frequently require pay stubs along with other financial documentation like bank statements and tax returns when evaluating a borrower's mortgage application because it provides proof of steady income and employment.

User Neitsa
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Answer:

Certificate of Personal asset details to be used as collateral for the mortgage

Step-by-step explanation:

For the Loan, you need the guarantee, and it can be another person or it can be your asset. The more asset you owe, the more valued you will be and the bank will then credit you more. Thus, you can get the loan easily, and in fact, only then you will be eligible for the loan. And more assets you owe, more loans you can get.

User Randall Ma
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