WVOE Only Loans for Traditionally Employed Borrowers
WVOE Only loans give brokers a simplified path for qualifying eligible wage earners using written verification of employment instead of the full traditional stack of tax returns, W-2s, and paystubs.
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WVOE Only
About program
The WVOE Only Program is for borrowers with stable, full-time employment who do not want to provide traditional pay stubs and W-2s. Instead, a lender-verified WVOE (Written Verification of Employment) completed by the employer is used to verify income. This can especially be beneficial for borrowers with recent job changes or those who prefer minimal documentation.
Key features
- No tradeline requirement w/ 3 credit scores
- No tax return, W2, or paystubs
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- Cash-out used for reserves
- SFR, condotels, condos, 2-4
- Loan amounts up to $3m
- 2 months bank statements required
Required to Disclose
Credit report
(cannot be older than 60 days) - must be merged into the LOS.
Borrowers' ID
(passport or driver's license).
Purchase contract
(if applicable)
Complete loan application
(including income & employment)
Submission form completed
Written Verification of Employment from current employer showing YTD income along with last 2 years income.
Required to Underwrite
(in addition to above)
Credit report
(cannot be older than 60 days) - must be merged into the LOS.
Borrowers' ID
(passport or driver's license).
Purchase contract
(if applicable)
Complete loan application
(including income & employment)
Submission form completed
Written Verification of Employment from current employer showing YTD income along with last 2 years income.
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FAQ
How many years of employment are required for the WVOE-Only loan program?
Borrowers must show a minimum of two consecutive years of employment with the same employer to qualify for the WVOE-Only loan program. This requirement helps verify stable income without needing traditional documentation such as pay stubs or tax returns.
Does the borrower need to provide tax returns for a WVOE-Only mortgage?
No. One of the key benefits of the WVOE-Only loan is that tax returns, W-2s, pay stubs, and 4506-C forms are not required. Income is verified solely through the written verification of employment (WVOE), making this program ideal for traditionally employed borrowers who want a simplified documentation process.
Are bank statements required to support WVOE income?
Yes. Borrowers must provide two months of personal bank statements to support the WVOE and demonstrate consistent income deposits. This additional verification helps strengthen loan qualification without requiring traditional tax documentation.
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