Brought to you by 7th Level Mortgage LLCApply Now Eligible wage earners
A W-2-only option may provide a different documentation path for an eligible full-time wage earner when a traditional year-to-date paystub is unavailable or does not fit the program.
Employment and income must still be verified and the full application underwritten. Credit, debts, assets, reserves, property type and occupancy affect eligibility.
Current partner guidelines may consider primary residences, second homes, investments, two-to-four-unit properties and certain warrantable or non-warrantable condos.
The source program described options reaching 90% loan-to-value, cash-out, interest-only payments and loan amounts up to $3.5 million. Those features are not available in every scenario and must be confirmed before a borrower relies on them.
Frequently asked questions
Some alternative-documentation programs may use eligible employer-verified W-2 income without a year-to-date paystub. This is scenario-dependent.
Yes. W-2-only is a different documentation method, not an exemption from employment and income verification or underwriting.
General information is useful. A mortgage professional can help you evaluate the facts that apply to you.
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