MBReviewed by Mike Basti, Mortgage Broker & Founder · NMLS #377740
Quick Answer
To qualify in 2026 you generally need: a 2-year job history, a 620+ FICO (~680 for interest-only), a completed Form 1005 (WVOE) from your employer, ~3 months reserves, and a down payment — with no tax returns or pay stubs. See Eligibility.
The core requirements (2026)
| Requirement | Typical |
|---|---|
| Employment history | ~2 years (often same employer) |
| Credit score | 620+ (some allow no score; ~680 for I/O) |
| Income proof | Form 1005 WVOE from employer |
| Tax returns / pay stubs | Not required |
| Reserves | ~3 months minimum |
| LTV | Up to 80–95% (5–20%+ down) |
| Loan amount | Up to ~$5M |
Illustrative for 2026; VOE-only is non-QM, set by individual specialty lenders. Not an offer. See how rates price →
How Form 1005 works — and your one job
Your only job is to sign Part I — never fill in your own income: The single most important thing to understand about a VOE-only loan is the division of roles on Form 1005. You sign Part I, which is simply your legal authorization for your employer to release your income data. Your employer's HR or payroll then completes Part II — the actual income figures — and certifies its accuracy. Under no circumstances should you ever write your own income numbers on the form; that alone can pause or sink the loan. The lender sends the form directly to your employer and receives it back directly, keeping the third-party verification clean. This is why the program is fast: the whole income picture rests on one document your HR department fills out. See if your employer can complete it →
Down payment & LTV
| Profile | Typical LTV / down* |
|---|---|
| Strong credit, primary residence | Up to 90–95% (5–10% down) |
| Standard non-QM VOE | ~80% (20% down) |
| Interest-only option | Higher FICO (~680), no FTHB |
*Varies by lender, credit, and property. Model the payment in the calculator.
Documents checklist
| Document | Purpose |
|---|---|
| Signed Form 1005 (Part I) | Your authorization |
| Employer-completed Form 1005 (Part II) | Income verification |
| Government photo ID | Identity |
| Credit report | FICO & history |
| Reserve statements | ~3 months of payments |
| Property / transaction docs | Appraisal, contract |
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 from offices in Newport Beach and Marina del Rey.