WVOE loans that qualify on your employer's verification
A WVOE loan qualifies W-2 employees with a Written Verification of Employment completed by their employer. Many programs need no pay stubs, W-2s or tax returns.
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Overview
A WVOE loan uses a Written Verification of Employment, a form your employer completes, similar to Fannie Mae Form 1005, to confirm your job, start date and earnings. The lender qualifies you on that form instead of pay stubs, W-2s and tax returns. It is usually a non-QM program built for salaried W-2 wage earners, including people who prefer not to share tax returns or whose returns show deductions or losses that reduce their qualifying income.
Your employer fills out and signs the form, and the lender usually contacts the employer directly to confirm it. Many lenders look for a stable job history, often two years with the same employer, and some also ask for recent bank statements that show payroll deposits. Borrowers who are self-employed, own part of the company, or work for a family member generally do not qualify for WVOE-only programs.
Depending on the lender, WVOE loans can finance a primary residence, a second home or an investment property. Programs differ in how they treat overtime, bonuses and commission, and in which employers they accept. QMS compares WVOE programs across non-QM lenders and coordinates the form with your employer's HR or payroll team. Pricing is generally higher than conventional financing to reflect the limited documentation. All loans are subject to credit approval and lender guidelines.
Is it a good fit?
- Are a salaried or hourly W-2 employee
- Have a stable job history with your current employer
- Prefer not to provide tax returns
- Have deductions or side business losses that lower the income on your returns
- Have an employer willing to complete the verification form
- Are buying or refinancing a primary home, second home or rental
What you'll need
- Written Verification of Employment completed and signed by your employer
- Employer contact information for the lender's verification
- Recent bank statements, if the lender requires them
- Asset statements for down payment and reserves
- Government-issued photo ID
- Purchase contract, or mortgage statement for a refinance
How it works
How it works with QMS
Confirm your fit
We confirm your employment type and history and that your employer can complete the form.
Pick the program
We compare WVOE lenders on property types, income rules and pricing.
Verify and close
Your employer completes the WVOE, the lender confirms it, and we manage conditions through closing.
FAQ
WVOE Only loan FAQs
Don't see yours? Call us or send a message. We answer the same business day.
305-425-1990What is a Written Verification of Employment?
It is a standard form, similar to Fannie Mae Form 1005, that your employer completes and signs. It confirms your position, start date, pay rate and recent earnings, including overtime, bonus or commission when they apply. The lender usually sends the form to your employer and confirms it directly, so the information comes from your employer rather than from you.
Can I use a WVOE loan if I am self-employed?
Generally no. WVOE programs are built for W-2 employees whose employer can independently verify their income. Lenders usually exclude borrowers who own part of the company or work for a relative. If you are self-employed, bank statement, profit and loss and 1-year tax return programs are designed for you, and we can compare those instead.
Why would I choose WVOE over a conventional loan?
If your W-2 income is strong but your tax returns show losses from rentals or a side business, a conventional loan may count those losses against you. A WVOE program generally qualifies you on your employer-verified earnings instead. Pricing is usually higher than conventional, so we compare both and show you the tradeoff before you decide which one to pursue.
Can I use a WVOE loan for an investment property?
Many lenders allow WVOE loans for investment properties as well as primary residences and second homes, although eligibility and terms vary by lender and property type. For a rental, a DSCR loan that qualifies on the property's rent may also be an option. We compare both so you can choose the one that fits your plans.
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