Letter of Employment (LOE)

A Letter of Employment is a written letter that is required for all clients who are currently employed by someone else, confirming details about their job and position. If you are business for self, don't worry about this one (you get to collect lots of other great documents). There are key points lenders are looking for on a letter of employment that should match the employment information you have given your mortgage broker. These key parts are:

1. Your current position
2. How you are being paid and how much are being paid. Hourly/ Salary/Commission
3. That you are employed full time
4. That you are not on a probation period
5. This should be signed and dated on company letterhead

This letter is usually written by your boss or if it is a larger company, human resources. Typically, this document needs to be dated within 30 days of your mortgage application and ink signed by the originator, before being submitted to a lender.