WVOE loans are mortgage programs considered alternative financing because they are neither Conventional nor government-issued loans. They are available through private lenders and rely on Written Verification of Employment. If a borrower is a wage earner or has trouble meeting the requirements for Conventional mortgages, a WVOE loan may work for them.

What is a Written Verification of Employment?

Verification of employment is used in the loan application process to determine job stability and income. Written Verification of Employment confirms that borrowers have stable employment and sufficient income. With WVOE loans, AD Mortgage relies on employment and credit history instead of W-2 forms, pay stubs, and tax returns. Borrowers with proof of two years of employment with the same company and a minimum FICO of 620 or no score may be suitable WVOE loan candidates.

A WVOE loan may be useful because Foreign Nationals and Non-Permanent Residents can be approved, WVOEs can work for foreign employers with no rate adjustment, rental income may be supported by a reasonable lease agreement without tax returns, borrowers may not need tax returns or pay stubs, and the maximum loan amount can exceed the county loan limit eligible for conforming loans.

Programs Non-QM Loans

WVOE

No Score or FICO 620 Up to 80% CLTV

Available on Prime and Super Prime

The WVOE program is a unique category of mortgage solutions that differs from Conventional or Government financing options. This program verifies income through a Written Employer Verification (WVOE) form completed by a borrower's current employer, rather than relying on tax returns. The program provides innovative solutions for borrowers who lack traditional tax returns or W-2s, have complex financial profiles, or have difficulty qualifying for Conventional mortgages.

Program features

Loan amounts up to $4 million
DTI up to 55%
Cash out available
Completed FNMA Form 1005 for a 2-year history with the same employer
Paystubs, tax returns, 4506-C, or W-2's not required

Why choose our WVOE?

Bank statements must reflect deposits from the employer supporting at least 65% of gross income
Bank statements not required up to 70% LTV
Gift funds allowed

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Program details

Bank statements not required up to 70% LTV

Min. 3 months of reserves

No tax returns required

A two-year history with the same employer is required

Loan amounts up to $4 million

DTI up to 55%

Min. FICO 620 or no score; for I/O Min. FICO 680 & FTHB no allowed

Up to 80% СLTV

Owner-occupied, second home, and investment properties

Cash-in-hand: No limitation for CLTV <55% & min FICO 680; $1,000,000 for CLTV from 55% to 65% or CLTV>65 & min FICO 700 or CLTV <=55 & FICO <680; $500,000 for CLTV >65% & FICO <700

Gift funds are allowed, the borrower must contribute at least 20% from their own funds with a maximum of 80% CLTV. Gift funds are not allowed for CLTV above 80%

Mortgage history: 0x30x12 and 0x90x24 for Super Prime, 0x60x12 for Prime

Min. 12 months out of credit event

Eligible property types: SFR, townhomes, condo warrantable/non-warrantable (limited review), condotel, 2-4 units (not available for 2nd home), PUD, SFR rural, short-term rentals, leasehold

Various fixed terms, 5/6 & 7/6 ARM terms

120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period

Eligible citizenship: US citizenship, Permanent & Non-Permanent Resident, ITIN

Eligible borrowers: Individuals, LLCs/Corp without a hit

WVOE

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