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City Edge Financial

VOE Loans

If you have income that doesn’t show on your tax returns or W-2s, you might not qualify for a loan on paper. But with VOE (Verification of Employment loans), lenders work around those requirements and get you the funding you can afford. It’s a non-QM loan product, so a government agency does not guarantee it, but it offers you the option to get financed.

What is a VOE Loan?

VOE loans or Verification of Employment loans rely on information from your employer to verify your income and employment. Therefore, they don’t require paystubs, W-2s, or tax returns, but instead, get a written Verification of Employment straight from your employer.

This information helps lenders determine if you make enough money to afford the new mortgage payment plus your existing debts.

Who Needs VOE Loans?

VOE loans aren’t common, but if you work on commission, bonuses, or tips, your paperwork may not reflect your true income. If your adjusted gross income on your tax returns isn’t enough to qualify you for a loan, you may need a VOE loan.

How to Qualify VOE Loan?

Like most non-QM loans, each lender has different requirements, but here’s what you might expect:

Average credit score requirements

Minimum 5% down payment

Enough cash on hand to cover several months of mortgage payments

A written VOE from your employer

How to Get Started

A VOE may be a good solution if you don’t think your income on paper is enough to qualify you for a loan but you make more than enough. Our professionals can help you determine the right option and match you with the right lender; contact us today.