Close More Deals with Less Income Documentation
Some qualified buyers have stable employment but struggle with traditional income-document requirements. The VOE-Only Mortgage program offers a simpler path by using third-party verification of employment.
Introducing the 3.5% Down FHA VOE-Only Mortgage Program
HIGHLIGHTS
580 FICO or Better
Borrowers must have a minimum qualifying FICO score of 580.
Benefit:
Clear credit guidelines can help realtors identify potential candidates before they begin the process.
Verifiable Employment
The borrower's employer must be accessible and independently verifiable through an approved third-party source.
Benefit:
Buyers with steady employment may be able to qualify without providing traditional income documents.
Reasonable Inconme for the Position
The stated income must reasonably align with the borrower's occupation, job title and industry.
Benefit:
The program uses a practical review of the buyer's employment profile while reducing the need for extensive paperwork.
Up to 6% Seller Concessions Allowed
Eligible buyers may be able to use gift funds for all permitted funds needed to close, subject to documentation and approval.
Benefit for realtors:
Support from qualified family members or other acceptable donors may make homeownership more archivable.
100% Gift Funds Allowed
Eligible buyers may be able to use gift funds for all permitted funds needed to close, subject to documentation and approval.
Benefit:
Support from qualified family members or other acceptable donors may make homeownership more achievable.
Eligible Property Types
The program is available for:
- Single-family residences
-Duplex properties
Benefit:
Buyers can explore financing for a traditional home or an eligible two-unit property.
Why Realtors Choose the 3.5% FHA VOE-Only Program
Fewer income documents
A simpler qualification process
Faster scenario reviews and potential approvals
Fewer documentation-related delays
More options for buyers with verifiable employment
A more streamlined lending pipeline
More opportunities to turn prospects into homeowners
Ready to Work with the Best?
Don't Let Income Documents Stop the Deal
If you have a buyer with verifiable employment who is having difficulty meeting traditional documentation requirements, let Zykup Mortgage, Inc review the scenario.
Program availability, eligibility and lender guidelines apply. Employment, income, credit, assets, gift funds, concessions and property eligibility must be verified and approved. Terms are subject to change. This information is not a commitment to lend. Obtain lender compliance approval before publishing.
Office: 9900 Lakewood Blvd ste 200 Downey, CA 90240
Email:[email protected]
Site: www.zykupmortgage.com