Posted on: 02nd Dec, 2009 02:18 pm
is voeloan ainterest only loan?
A VOE loan is a loan process which verifes your income by mailing a Verifiction of Employment to your employer. The employer completes the form with the requested information---start date, present income, income last two years, etc.
This form is used instead of verifying income with copies of your pay stubs and W2s.
It has nothing to do with whether or not the mortgage is interest only.
I guess they could still exist someplace, but, they are not too common recently.
This form is used instead of verifying income with copies of your pay stubs and W2s.
It has nothing to do with whether or not the mortgage is interest only.
I guess they could still exist someplace, but, they are not too common recently.
i would like to more or rather in depth what exactly the Lender means when he mentions VOE Form Accepted and Verbal VOE ( VVOE)...
I am under impression that VOE usually is used to verify the Income, but what exactly the Lender follow when he asks for VVOE.
I am under impression that VOE usually is used to verify the Income, but what exactly the Lender follow when he asks for VVOE.
It is a loan that verifys your employment which they all do some sort of it in this day and age.