Written Verification of Employment (WVOE) is a document that provides written confirmation of a borrower's employment and income information. This document is typically required by lenders as part of the loan application process, especially for mortgages.
A WVOE is typically completed by the borrower's employer or human resources department, and it includes information such as the borrower's job title, length of employment, and salary or hourly wage. The document must be signed and dated by an authorized representative of the employer.
The purpose of a WVOE is to verify that the borrower has a stable source of income and is able to meet their financial obligations, such as repaying a loan. Lenders will use this information to assess the borrower's ability to repay the loan and to determine the loan amount and terms.
Features
No Score or FICO 599
Up to 80% LTV for WVOE
Up to 85% LTV for 1099
Loan amounts up to $2 million
DTI 55% Max
Cash out available
Completed FNMA Form 1005 for 2-year history with the same employer
Temporary rate buydowns available
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