Your employer completes it
Your employer confirms your job, start date and pay in writing on the standard verification form. It is completed by your employer, not by you.
Employer verification (WVOE) loans
Employer verification (WVOE) mortgage loans: your employer confirms your pay, in place of pay stubs and tax returns.
A WVOE mortgage is for salaried and hourly employees whose employer confirms their job, start date and pay in writing on the standard verification form, mainly for the home you live in. Here is how it works, who it suits, and what you need.
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The basics
What an employer verification loan is
An employer verification loan, often called a WVOE loan after the written verification of employment, is for salaried or hourly employees whose employer confirms their job, start date and pay in writing on the standard verification form, in place of pay stubs, W-2s and tax returns.
The lender sends the form to the employer and receives it back directly; you cannot fill it in or deliver it. Shortly before closing, the job is re-confirmed by phone or email. It is mainly for the home you live in; a few programs allow a second home or a rental.
These loans are not sold to Fannie Mae or Freddie Mac, so each program sets its own rules. Your credit, your savings, your housing payment history, the appraisal and your debts compared with your income are still checked, and for a home you live in the lender must make a good-faith decision that you can repay the loan. This is not a stated-income loan.
Who it suits
- Salaried and hourly employees whose pay stubs or tax returns do not tell the whole story
- Employees with overtime, bonus or commission that the form shows over two years
- A steady job: most programs want about two years in the same field, with at least a year at the current employer; some want two years with the same employer
- Not for a family business: people employed by a relative or a family business cannot use this program
Employer verification is for employees. If you work for yourself, see bank statement loans, 1099 loans and profit and loss loans.
Employer verification loans at a glance
- What it is: a mortgage for a salaried or hourly employee that uses a written verification of employment the employer completes, in place of pay stubs, W-2s and tax returns.
- Who it is for: employees with about two years in the same field and at least a year at the current employer, not employed by a relative or a family business; mainly for the home you live in.
- What you need: an employer who will complete the standard verification form for the lender; in many programs, two months of bank statements showing the pay going in; statements for the down payment and closing costs; photo identification.
- How the income is counted: the pay the employer states on the form; overtime, bonus and commission can be counted when the form shows a two-year history.
- Not: a stated-income loan. The job is confirmed directly with the employer and re-confirmed before closing; credit, assets and the home are verified.
The income
How employer verification works
The form takes the place of your pay stubs, W-2s and tax returns, and the lender deals with your employer directly.
Sent and received by the lender
The lender sends the form to the employer and receives it back directly; you cannot fill it in or deliver it. That is what lets it stand in for pay stubs and tax returns.
Your current pay
The pay the employer states is the income. Overtime, bonus and commission can be counted when the form shows a two-year history of them.
Bank statements, in many programs
Many programs also ask for two months of bank statements showing the pay going in, so the deposits and the form agree.
The job is re-confirmed
Shortly before closing the lender confirms by phone or email that you still work there, as on any mortgage.
Other ways to show income
If you also own a business, or part of your income is paid on 1099 forms, a different program may fit better. Our alternative documentation page compares them side by side.
Compare the options
Requirements
WVOE loan requirements: what you need
The form is not the only document. Most borrowers can start with these.
- An employer who will complete the form, sent by the lender and returned directly to the lender
- A steady job: about two years in the same field with at least a year at the current employer in most programs; some want two years with the same employer
- Not a family employer: people employed by a relative or a family business cannot use this program
- Two months of bank statements showing the pay going in, in many programs
- Statements for the down payment, closing costs and savings after closing
- Photo identification for each borrower
Still checked, as on any mortgage. Your credit, your savings, your housing payment history, the appraisal and your debts compared with your income, and for a home you live in the lender’s good-faith decision that you can repay the loan. It is mainly for the home you live in; a few programs allow a second home or a rental.
How it works
The steps to an employer verification loan
Talk about your job
Your employer, how long you have been there and in the field, how you are paid, and the home you want to buy or refinance.
The lender contacts your employer
The standard verification form goes to your employer and comes straight back to the lender.
The income is confirmed
The pay on the form is the income; in many programs two months of bank statements show it going in. The job is re-confirmed shortly before closing.
Underwriting and closing
Credit, savings, housing payment history and the appraisal are reviewed as on any mortgage. You review your closing disclosure and sign.
Questions
Common questions about employer verification loans
What is a WVOE loan?
A loan for salaried or hourly employees whose employer confirms their job, start date and pay in writing on the standard verification form, in place of pay stubs, W-2s and tax returns. WVOE stands for written verification of employment.
Can I give the lender the form myself?
No. The lender sends the form to the employer and receives it back directly; you cannot fill it in or deliver it. That is what lets the form stand in for the usual documents.
Do I need pay stubs, W-2s or tax returns?
No. The form takes their place. Many programs also ask for two months of bank statements showing the pay going in.
How long do I need to have been at my job?
Most programs want about two years in the same field, with at least a year at the current employer; some want two years with the same employer. A loan officer can check which programs fit your dates.
I work for my family’s business. Can I use this?
No. People employed by a relative or a family business cannot use this program. Other ways to show income may fit; see the documentation options.
Does my overtime, bonus or commission count?
It can, when the form shows a two-year history of it.
Can I use it for a second home or a rental?
It is mainly for the home you live in. A few programs allow a second home or a rental; ask a loan officer which fit your plans.
Is my income still verified?
Yes. The lender deals with your employer directly, re-confirms the job by phone or email shortly before closing, and checks your credit, savings, housing payment history and the home’s value. For a home you live in, the lender must make a good-faith decision that you can repay the loan.
Do you lend in my state?
Fidelity Residential is licensed in many states. The full, current list is on NMLS Consumer Access (opens in a new tab), or call us at 732-686-9999.
Ready to talk about an employer verification loan?
Get a quote, apply online, or talk it through with a licensed loan officer.
This page is general information, not a commitment to lend. Programs, terms and eligibility depend on credit, income, property and underwriting review and are subject to change without notice.
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