Although FHA loans typically require tax returns for income verification, there are situations where you may be eligible without them.  If you are a wage earner and have yet to file income taxes but want to purchase a home using an FHA loan, this may apply to you. A Verification of Employment (VOE) will be required instead of tax returns.  Below are what you would expect to process this type of mortgage application.

Program Highlights:

• No tax returns, no W2s and no 4506T
• Must be employed for at least two years, preferably with the same employer or same line of business    (all employment VOE)
• Business: google recognized, brick & mortar
• Non-arm’s length transaction
• Minimum Loan Amount of $50,000
• Current Pay stub Covering 30‐Days of Employment

Not Allowed:

• Family Employer
• Self‐Employed and Investment Income
• Down payment Assistance Programs
• Departing Residence Income

Credit Minimums & DTI Allowed:

• 580+ FICO LTV UP TO 96.5% MAX DTI 55%
• 540 – 579 FICO LTV UP TO 90% MAX DTI 50%