http://www.incomesnoop.com/ is a sort of “ready reckoner” site on Internet which helps compute the income of individuals or companies living in a particular area, for free. If you propose to extend loan to somebody for car, house or personal purposes, you’re well-advised to refer to this site for readily knowing the repaying capacity of the borrower to make sure repayment reaches you safely.
When you provide the basic details of address and locality of the borrower, it immediately computes the income, enabling you to arrive at a conclusion on the affordability and status of the borrower. For example, for a borrower in Alaska, the income will be found to be higher with more creditworthiness than in other states due to its high oil finds. Accordingly you can decide the loan. Most important, you’re to make any verification before effecting any loan transaction.
Using this reckoned, contractors who carry out works for others, can know the paying capacity of the prospective customers, by calculating their income level so that the bill-settlement is hassle-free. You can refer to this site for making financial assessments on companies or persons when any loan for car, house or any other purpose is to be extended.
The US Government’s Census Data forms the cornerstone of these calculations. So it’s reliability and accuracy is beyond doubt. Its only a “reference site.”
Census details via http://www.incomesnoop.com/ at a glance:
The figures reveal the income level is not evenly spread which will reflect in the income level of borrowers.
State wise wealth position: highest is 68,000-73,000, lowest is 38,000-43,999 and the middle is 54,000-57,999 all US dollars per year.
Income earned by households: highest is $200000 or more (4.6%), lowest is less than $10000 (7.2%), and median is $53,046; more households remain below this median.
Income earned by families: highest 6%, lowest 4.6%, and median 64,585 dollars