Quick answer
A WVOE mortgage is a non-QM loan for W-2 employees that qualifies you on a written verification of employment, a form your employer completes confirming your position, start date and pay, instead of pay stubs, W-2s and tax returns. Lenders typically still verify employment by phone and may require a larger down payment than a conventional loan.
What is a WVOE mortgage?
A written verification of employment (WVOE) is a standard form your employer fills out. It confirms your job title, start date, pay rate and recent earnings, sometimes including overtime, bonus and commission. A WVOE mortgage uses that form as the main income document, so you do not need to provide pay stubs, W-2s or tax returns.
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How the verification works
- The lender sends the form directly to your employer's HR or payroll department.
- Your employer completes it and returns it to the lender, not to you.
- The lender typically confirms your employment by phone before closing.
Because the employer supplies the numbers, the loan is only as strong as that verification. Self-employed borrowers and anyone who owns a large share of the company paying them usually do not qualify for WVOE programs.
Typical requirements
| Item | What lenders typically look for |
|---|---|
| Employment | W-2 employee, often 2 years with the same employer or in the same field |
| Income document | Written verification of employment completed by the employer |
| Down payment / equity | Often 20% or more |
| Ownership in employer | Usually must be under 25% |
Typical ranges, not a quote. Terms vary by lender, property type, occupancy and loan size.
Who it fits
- Commission and bonus earners whose income varies year to year.
- Employees with a recent raise or promotion that past W-2s do not reflect.
- Borrowers with complicated tax returns, such as large unreimbursed expenses or side-business losses.
If your pay stubs and W-2s already show enough income, a conventional loan is usually cheaper. I can price both.
FAQ
What is a WVOE loan?
A non-QM mortgage for W-2 employees that uses a written verification of employment from your employer instead of pay stubs, W-2s and tax returns.
Can self-employed borrowers use a WVOE loan?
Usually not. WVOE programs are built for W-2 employees, and most exclude borrowers who own a significant share of the company that pays them.
Does my employer send the form to me?
No. The lender sends it directly to your employer and receives it back directly, then typically verifies by phone.
Are WVOE mortgage rates higher?
Usually. WVOE loans are non-QM and typically priced above conventional loans.
Part of the self-employed and non-QM mortgage guide: bank statement, P&L, 1099, asset depletion, DSCR, WVOE, ITIN and foreign national loans.
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Keep reading
All Non-QM Mortgage Options
Seven ways to qualify without tax returns.
What Is a Non-QM Loan?
How non-QM mortgages work.
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