Verification of employment, or VOE, is a process used by lenders to confirm that an applicant is employed. To obtain a VOE, the lender will contact the applicant's employer to request information about their job, salary, and employment history.
The employer will then provide this information to the lender, who will use it to make a decision about the loan. In most cases, the lender will only consider the applicant's base pay when determining their eligibility for the loan. This means that any overtime pay, bonuses, or other forms of compensation will not be taken into account. As a result, it's important for applicants to make sure that their base pay is sufficient to cover the cost of the loan before they apply.
This is one of the many reasons it is important to negotiate for a strong base pay. Even if your gross pay with commissions and bonuses is higher than the amount a lender is looking for it won't matter because they will only consider your eligibility based on fixed income (i.e. base pay).