At A&D, we know even salaried or wage earner borrowers sometimes don’t always fit into the traditional mortgage box. The solution is the new Written Verification of Employment Program.
Using base salary or hourly wage only
Borrower must be employed with the same employer for at least two years
FNMA VOE (Form 1005) is completed by the Human Resource Department, payroll department or Officer of the Company
Maximum 43% DTI and 70% LTV, minimum 660 credit score
Two months bank statements deposits are needed to support at least 65% of the qualifying income
No paystubs, W2s, tax returns or transcripts are required