Most-asked: qualify on employer income via Form 1005 · no tax returns/pay stubs · 620+ credit · 2-yr job history · LTV up to 80–95% · employer completes Part II, you sign Part I. Details below.
The basics & Form 1005
What is a VOE-only loan?
A non-QM mortgage qualifying you on employer-verified income via Form 1005 — no tax returns, W-2s, or pay stubs.
What's the difference between written & verbal VOE?
Written (Form 1005) documents income to qualify; verbal (VVOE) is a quick call ~10 days before closing to confirm you're still employed.
Who fills out the income on Form 1005?
Your employer's HR/payroll completes Part II; you only sign Part I. Never enter your own numbers.
Do I need tax returns or pay stubs?
No — the employer form replaces them. Ideal for complex/understated filings.
Is it a real, regulated loan?
Yes — a regulated non-QM product with standard credit, DTI, and appraisal steps.
Credit, down payment & income
What credit score do I need?
620+ (some allow no score; ~680 for interest-only). Requirements →
How much down payment?
LTV up to 80–95% — so 5–20%+ down by program/credit.
Is it good for variable income?
Yes — OT, tips, bonuses & commissions can be reported on Form 1005.
What reserves are required?
Typically ~3 months of housing payments.
Can I borrow a large amount?
Yes — loan amounts can reach ~$5M, a jumbo alternative for wage earners.
Rates & alternatives
What are VOE-only rates?
Modestly above conventional (non-QM). Driven by credit, down & lender. Rates →
Can self-employed borrowers use it?
Generally no — use bank statement or P&L instead.
VOE vs conventional?
Conventional is cheaper with clean tax returns; VOE wins when filings understate you.
Can I refinance later?
Yes — into conventional as your documented income/tax picture simplifies.
Can I use it for investment property?
Some non-QM VOE programs allow it; agency-style is often primary-only.
Employer, process & timing
Will my employer have to cooperate?
Yes — most complete Form 1005 (it helps you); some need written consent, small employers can be slower.
How long does it take to close?
Often faster than conventional — depends on your employer's turnaround on Form 1005.
What documents do I need?
Signed Form 1005 (Part I), employer-completed Part II, ID, credit, reserve statements. Requirements →
What if I just changed jobs?
OK if you have a 2-year history in the same field and the new employer can complete Form 1005.
Do you serve all of California?
Yes — all 58 counties, from Newport Beach & Marina del Rey.
What if my employer won't complete the form?
Rare, but if so we'll pivot you to an alternative like bank statement or conventional — you'll still have a path.
Reviewed by the licensing team at Save Financial, a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766) founded in 2009 and serving all 58 counties.