No Tax Return Florida Mortgage Lenders use VOE to qualify! We offer a VOE-only Florida mortgage that will only require the employer to fill out a verification of employment (VOE) form, no other income documents are needed to verify your income. No W2, No tax returns, NO pay stubs, NO 1099 form, all we need is for your employer to complete the verification form, that is the income that we will use to qualify you for a mortgage loan. The VOE-only mortgage works great for cash businesses that don’t receive traditional income pay stubs and w2’s.
Work (VOE) Verification of Employment Mortgage
The Verification of Employment (VOE) Only is a mortgage loan option that uses your Employment verification of income to qualify for a Florida mortgage without tax returns, pay stubs, and or W2s.
VOE Only Florida Mortgage Lenders
• 80% LTV Purchase / Rate /Term
• MInimum 660+ Credit Scores
• No tradeline requirement w/ 3 credit scores
• No tax return, W2, or paystubs
• Unlimited Cash in Hand
• Cash-out used for reserves
• SFR, Condotels, Condos, 2-4
• Loan amounts up to $3m
• 2 months bank statements required
Why Would Someone Want A VOE Only a Mortgage?
A “VOE only” mortgage, which stands for “Verification of Employment only” mortgage, is needed when a borrower wants to qualify for a loan based solely on their employment status, without providing additional income documentation like paystubs or tax returns, typically because their income source is non-traditional or difficult to verify through standard means, like self-employment or commission-based work;
VOE Key Points
Suitable for non-traditional income: This type of mortgage can be helpful for individuals with income sources that are difficult to verify with traditional methods, such as self-employed individuals, freelancers, or those with significant commission-based income.
Less stringent income verification: Unlike a standard Florida mortgage, a VOE-only mortgage loan relies primarily on contacting the borrower’s employer to confirm their employment and income via VOE, without requiring extensive documentation requirements like w2, paystubs, tax returns or paystubs.
Higher risk for lenders: Since Florida mortgage lenders have less concrete proof of income with a VOE-only mortgage, they may consider the borrower to be a higher risk and could charge higher interest rates or require a larger down payment.
VOE Disclosures Requirements
- Borrowers’ ID (Passport or Driver License).
- Purchase Contract (if applicable)
- Credit Report – LOS merged
- Complete Loan Application – Including Income & Employment.
- Submission Form Completed.
- Required to Underwrite
VOE Must SHow YTD income and 2 years income.
Florida Verification of Employment Mortgage Lenders (Form 1005): PDF
Those requesting employment or salary verification may access THE WORK NUMBER® online at https://www.theworknumber.com/verifiers/ using DOL’s code: 10915.
Popular Florida Mortgage Options Include:
- Bank Statement Florida Mortgage Lenders– Use bank statement deposits to qualify.
- 1099 Mortgage Lenders: Use 1099 use Income up to 100% deposits for income.
- Florida Condo Mortgage Lenders:: Non-Warrantable: Condotel:: Co-op
- FHA Mortgage loans have easier qualifications / FHA Refinance down to 500+ Credit
- Self Employed Mortgage: If you write off too much of your income.
- No Income: No doc, stated Florida no Income verification Mortgage Lender
- NO tax return: Non-QM and private lenders offer alternative documentation.
- VOE: Allow your VOE to disregard your tax return write-offs.
- Bank Statement: Use 12 or 24 average bank deposits for mortgage income.
- Pledged Assets: Assets in your account to qualify.
- P&L Only: Use Your licensed Tax preparer Profit and Loss to qualify.
- DSCR NO Income Investor: Use the subject property’s income for your next investment.
- Foreign National: Nonresidents can invest purchase or cash out.
- Non-warrantable Florida Condos: That don’t meet Fannie Mae or Freddie Mac specifications.
- Condotel Mortgage Options: Unit owners can rent out their units to short-term guests
- Cross Collateral: – Up to 90% financing when pledging more than one property for collateral.
- Bridge-to-Sale – Help clients access their listed property’s equity before its sale.
- Foreign National – Non-Resident– Jumbo Super Jumbo refinance up to 15 MM with CPA letter.
- Asset Depletion– Increase client purchasing power by calculating assets into qualifying income.
- Cross-Collateralization- Access Jumbo home equity without having to sell first.
- Condo Condotel – Super Jumbo Condo and Condotel Florida mortgage lenders for Unique properties.
- Pledged Asset – Jumbo cashouts up to 90%(stocks, mutual funds, etc.) without liquidating.
- Refinance Florida Home While Listed For Sale – Cashout refinance a Florida home while listed on the MLS.
