What Are WVOE/ 1099 Loans

A Written Verification of Employment (WVOE) is a form to be completed by a borrower’s current employer to verify specific details about their employment, such as dates of hire, compensation structure (salary, bonus, commissions), and year to date earnings. This WVOE form can be used to confirm a borrower’s income (AD Mortgage). Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines (angle oak). With a 1099 or WVOE loan, these borrowers can qualify for the right loan without having to show their tax returns.

How Do WVOE/ 1099 Loans Work and Who Do They Benefit

WVOE/ 1099 Non-QM loans are perfect for borrowers who mis qualify for conventional loans. Self-employed borrower who us 1099 forms as proof of income, can use the entire amount to qualify. Borrowers can also add income they receive from rental properties (AD Mortgage).

What Are the Qualifications and Requirements For WVOE/ 1099 Loans

·      FICO scores as low as 580 (AD Mortgage)

·      Completed FNMA Form 1005 for 2-year history with the same employer (AD Mortgage)

·      1099s must be from a single employer (Angle Oak)

·      Owner-occupied, second homes, and non-owner occupied (angle oak)


·      Up to 80% LTV for WVOE (AD Mortgage)

·      Up to 90% LTV for 1099 (AD Mortgage)

·      Loan amounts up to $4 Million (AD Mortgage)

·      DTI as high as 55% (AD Mortgage)

·      Cash out available (AD Mortgage)

·      Cryptocurrencies accepted for reserves, down payments and closing costs (AD Mortgage)

·      Non warrantable condos and condotels are allowed (AD Mortgage)