WVOE Only: No Tax Return Mortgage Loans for Traditionally Employed Borrowers
The WVOE (Written Verification of Employment) loan program provides brokers with a simplified way to qualify eligible wage earners for a no-tax-return mortgage. It replaces the traditional stack of tax returns, W-2s, and pay stubs with employer-verified income documentation.
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WVOE Only
About program
A WVOE mortgage loan can be a clean option for borrowers with predictable wage or salary income and at least two consecutive years with the same employer. With a written verification of employment mortgage, income is documented through a lender-verified form completed by the borrower’s employer and supported by two months of personal bank statements.
Program Highlights
Qualification & Documentation
These guidelines explain how wage-earning borrowers qualify with a Written Verification of Employment, what the employer-completed form needs to support, and what helps a WVOE Only loan move through underwriting more efficiently.
- Minimum 660 FICO
- Income verified through a lender-verified WVOE
- Two consecutive years with the same employer
- No tax returns, W-2s, paystubs or 4506-C
- Two months of personal bank statements required
- No tradeline requirement with three credit scores
Loan Structure & Flexibility
These features outline available LTV limits, loan purposes, cash-out options, and other program flexibilities.
- Up to 80% LTV, including for eligible non-permanent residents
- Unlimited cash-in-hand
- Cash-out funds may be used for reserves
Property & Loan Parameters
These guidelines cover eligible property types, occupancy options, and loan amounts supported by the program.
- Primary and second single-family residences
- Primary and second condos and condotels
- 2–4 unit properties
- Loan amounts up to $3 million
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 supports a stable income history without requiring 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.
When is WVOE Only the best fit for a borrower?
This no W-2 home loan option may be a fit for traditionally employed wage or salary borrowers with a stable income, at least two years with the same employer, and an employer that can complete the verification promptly.
When should a broker use WVOE Only instead of Standard Doc?
WVOE should be considered when an employed borrower could qualify traditionally but would benefit from a simpler income-documentation path. Standard Doc may be better when the borrower already has complete and consistent traditional income documents.
What helps a WVOE file move cleanly?
Submit a complete WVOE from an authorized employer representative, confirm that the income aligns with the bank deposits and loan application, and explain irregular pay or deposits before underwriting review.
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