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WVOE / 1099

A Written Verification of Employment (WVOE) is a form to be completed by a borrower’s current employer to verify specific details about their employment, such as dates of hire, compensation structure (salary, bonus, commissions), and year to date earnings. At A&D Mortgage, this WVOE form can be used to confirm a borrower’s income.

The same is true for our 1099 Income Program. Instead of tax returns, A&D uses the actual wages from your 1099 form as qualifying income for your new home loan. Together, the 1099 and WVOE options are ways to qualify for a Non-QM mortgage.

Program highlights:

  • FICO 580
  • Up to 80% LTV for WVOE
  • Up to 90% LTV for 1099
  • Loan amounts up to $4 million
  • DTI 55% Max
  • Cash out available
  • Completed FNMA Form 1005 for 2-year history with the same employer

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Other Programs

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FHA High Balance

- Loan amounts up to $765,000 depending on home location
- Available on primary residence and second/vacation homes
- Condo financing available

Bridge Loan Program

- FICO 580
- 70% LTV
- Interest Only
- No Income on 1003
- Foreign National allowed
- No prepayment penalty
- Fast closing
- No asset seasoning
- Eligible for Non-Permanent Residents

Freddie Mac Refi Possible

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae Refi Now

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements