VOE Home Loan (Verification of Employment)
NO more W-2’s & Paystubs for Salaried Borrowers
Easy Documentation, Low Documentation Loans, Low Doc, No Doc Call it what you want It is not a program it is a full doc loan with a VOE replacing income documents
Salaried borrowers only
Cash-Out Refinance: 70% LTV/CLTV
R/T & Purchase: 80% LTV/CLTV
High Balance Conforming
DU Refi Plus
Following Incomes are NOT qualified for VOE (VOE Doc Type = Base Salary Only)
(If borrower use following Income as qualifying income, 2 years Tax Return will be required)
- Investment income related (interest/dividend,
capital gain, rental property, trust income, royalty
- Other income related (alimony, automobile
allowance, retirement/pension, social security,
- All sales position
- Considers contract borrowers (borrowers who are
paid on a contractual basis as independent
"contractors") as self-employed borrowers.
- Rental Income
- Bonus Income
- Overtime Income
- Commission-Paid Borrowers
- Gratuities and tips (waiter & waitress etc.)
- Part-time or Second-job Income
- The salary increase will begin prior to or within 30
days of the first payment date of the mortgage.
- Partial Year Paid Borrowers - Certain borrowers
(such as teachers or forest fire fighters) may be
paid for only part of the year.
- Seasonal Income
- Military Income
- Union Member Borrowers
Income is reasonable compared with submitted assets and credit profiles.
Additional documentations such as W-2, Paystub or Tax Return can always be requested upon verification.