Thomas Martin – Mortgage Loan Originator– Phone: 954-667-9110 – Subject to change without notice – Rev 3-13-2025
What is (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.
Min 660 FICO – Up to 80% LTV
• No tradeline requirement w/ 3 credit scores
• No tax return, W2, or paystubs
• Non-Perm up to 80% LTV
• 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 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
