The Drawbacks Of Having A VOE In Mortgage


In the mortgage industry, a VOE is a Verification of Employment. This is when a lender contacts the borrower’s employer to verify employment and income.

While this may seem like a routine part of the process, there are actually some drawbacks to having a VOE in your mortgage. Here are a few things to keep in mind:

-Your employer may not be happy to receive the call. While most employers are understanding of the process, some may see it as an inconvenience.

-The VOE can delay your loan approval. If your employer is slow to respond, it can hold up the entire loan process.

-There is always the possibility that your employment status could change between the time of the VOE and closing on your loan. If you’re laid off or otherwise let go from your job, you may not be able to get financing for your home.

What is VOE in Mortgage

A VOE, or Verification of Employment, is a requirement by some mortgage lenders in order to verify that the borrower is gainfully employed and has a steady income. The VOE must be requested from the borrower’s employer and can usually be completed online or over the phone.

While a VOE may seem like a harmless way for a lender to verify your employment status, there are actually some potential drawbacks to having one in your mortgage.

First and foremost, requesting a VOE from your employer can be intrusive and time-consuming. In order to complete the request, your employer will need to provide detailed information about your employment status, salary, and job duties. This information can be difficult or time-consuming to obtain, especially if your employer is uncooperative or unresponsive. Additionally, some employers may view the request as an invasion of privacy, and could potentially retaliate against you for having a VOE in your mortgage. If you have concerns about retaliation from your employer, it’s important to weigh the risks and benefits of having a VOE before moving forward with your mortgage application. Finally, it’s important to note that not all lenders require a VOE in order to approve your loan. If you’re concerned about the potential drawbacks of having a VOE in your mortgage, you may want to consider working with a lender who does not require one.

The Drawbacks of Having a VOE in Mortgage

Verification of employment, or VOE, is a process that lenders use to confirm that an applicant is employed. The VOE request is typically made by the lender to the applicant’s current or most recent employer. While a VOE is commonly requested for all types of mortgages, it is especially important for those who are self-employed or have recently changed jobs.

It Can be Time-Consuming

The verification of employment, or VOE, is a process that mortgage lenders use to verify the income of their borrowers. The VOE is usually requested after the borrower has provided their most recent pay stubs and tax returns. While the VOE is a necessary part of the mortgage process, it can be time-consuming for both the borrower and their employer. The borrower will need to provide their employer with a signed authorization form so that the lender can request the information. The employer may need to take time out of their day to gather the requested information and send it to the lender.

If the borrower is self-employed, they will need to provide additional documentation, such as profit and loss statements, to verify their income. This can add to the overall time it takes to complete the VOE process.

It Can be Costly

It can be costly: If you’re not careful, a VOE could wind up being one of the most expensive aspects of your mortgage. Depending on the lender, you may be charged a fee for the letter itself. Additionally, if your employment situation has changed since you applied for the mortgage (e.g., you were fired, quit or took a leave of absence), the lender could raise your interest rate or refuse to fund your loan altogether. It’s time-consuming: The process of getting a VOE from your employer can take a few days (or even longer, if your employer is slow to respond). This can delay the closing on your home by several days or even weeks. You might have to provide extra documentation: In addition to the VOE, your lender might also require additional documentation, such as recent pay stubs or tax returns.

It Can be Stressful

It can be stressful trying to obtain a VOE from your lender. You may have to provide additional documentation or even have your loan put into forbearance while you go through the process.


As you can see, there are several drawbacks to having a VOE in your mortgage. However, these drawbacks should not deter you from considering a VOE as an option for financing your home. If you have good credit and a steady income, a VOE may be a good option for you.

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