Employer verification (WVOE) mortgage loans: your employer confirms your pay, in place of pay stubs and tax returns.

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.

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.

No. The form takes their place. Many programs also ask for two months of bank statements showing the pay going in.

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.

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.

It can, when the form shows a two-year history of it.

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.

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.

WVOE stands for written verification of employment. It is the standard verification form the lender sends to your employer, usually to its human resources or payroll office. Your employer fills it in to confirm your job, your start date and your pay, and returns it directly to the lender; you cannot fill it in or deliver it. Separately, shortly before closing, the lender re-confirms the job by phone or email, as on any mortgage.

Your job, your start date and your pay. Overtime, bonus and commission can be counted when the form shows a two-year history of them. In many programs, two months of bank statements showing the pay going in are checked against the form.

The document that shows your pay. A full documentation loan uses your pay stubs and W-2 forms, or your tax returns; a WVOE loan uses the form your employer completes in their place. Both check your credit, savings and the home. A WVOE loan is a non-QM loan: it is not sold to Fannie Mae or Freddie Mac, so each program sets its own rules. If your pay stubs and W-2s already show your income well, ask for a standard loan quote as well and compare the two for the same home.

It depends on how you earn. Employer verification is for salaried and hourly employees whose employer confirms their pay in writing. A bank statement loan works out a monthly income from the deposits in your bank statements, and suits business owners and other self-employed borrowers. If you also own a business, or part of your income is paid on 1099 forms, a different program may fit better; see the documentation options compared.

It depends on the dates. 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. If you have been at your new employer for less time than the programs ask, a loan officer can check other ways to show your income, including a standard loan with pay stubs and W-2s.

Yes. A WVOE loan can buy a home or refinance the one you have, and your employer confirms your pay the same way. If you want to take cash out, ask your loan officer which programs allow it for your file.

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.