If you earn a paycheck but want a mortgage option that doesn’t require tax returns, a Written Verification of Employment loan, commonly called a WVOE, may be a good fit. Our WVOE program uses a form your current employer completes to verify employment and income. This provides an alternative way for eligible borrowers purchasing or refinancing a property in Arizona to document earnings.
WVOE Loan
A WVOE loan lets eligible borrowers document income through a Written Verification of Employment form completed by their current employer, rather than tax returns. We review the employer-provided information as part of the mortgage qualification process. The lender also evaluates your credit, debts, property, and other application details.
Program Highlights
- Minimum credit score: 660
- Maximum loan-to-value: Up to 80%
- Loan amounts: Up to $2 million
- Debt-to-income ratio: Up to 55%
- Eligible occupancy: Primary residences, second homes, and investment properties
- First-time homebuyers: Eligible
- Tax returns: Not required
- IRS Form 4506-C: Not required
Verify Your Income Through Your Employer
This program’s central feature is its approach to income documentation. Your current employer completes the WVOE form and provides the employment and income information. For eligible employees, this can reduce the need to gather tax returns during the mortgage application process.
Options for Different Property Goals
- Primary residences: A home you intend to live in.
- Second homes: A property for your personal use in addition to your primary residence.
- Investment properties: A property purchased or held for investment purposes.
First-Time Homebuyers Are Welcome
You do not need to have owned a home before to be considered. First-time homebuyers are eligible, provided they meet the program’s credit, income, down payment, and other underwriting requirements.
Submit a fast quote request to speak with a financing specialist about Written Verification of Employment loans.