Floating home loan applications require more documentation than conventional mortgage applications because lenders are underwriting an unusual asset in an unfamiliar market. Being organized and prepared — with the right documents from the start — is one of the biggest factors in a smooth, fast closing.
Category 1: Income Documentation
- Two years of federal tax returns (all pages, all schedules) — the single most important document for self-employed borrowers
- W-2s or 1099s for the past two years
- Two most recent pay stubs (if W-2 employee)
- Year-to-date profit and loss statement (if self-employed; some lenders require CPA-prepared)
- Business bank statements (if self-employed — typically 12 months)
Category 2: Asset Documentation
- Two to three months of bank statements (all pages, all accounts used for down payment or reserves)
- Investment account statements (brokerage, retirement — for reserves documentation)
- Gift letter (if any portion of down payment is a gift — format varies by lender)
- Documentation of large deposits (any non-payroll deposits that need explaining)
Category 3: Property Documentation
- Marine survey — full report from a SAMS or NAMS certified surveyor, dated within 12–18 months (must be current)
- NADA marine appraisal or lender-ordered valuation
- Vessel title documentation — certificate of title or USCG documentation
- Haul-out inspection report (required by some lenders for steel-hull homes)
Category 4: Slip Lease Documentation
- Full copy of the slip lease — all pages, all amendments
- Current slip fee statement — showing monthly amount
- Dock association or marina contact information — lenders may want to verify directly
Category 5: Dock Association / HOA Documents
- Current HOA or dock association financial statements
- Reserve fund study or balance
- CC&Rs and rules & regulations
- Pending special assessment disclosure
- Meeting minutes (some lenders request recent minutes to check for undisclosed issues)
Category 6: Insurance
- Current liveaboard insurance declaration page — showing coverage limits, deductibles, and insured value
- If buying: Insurance binder or quotes showing you can obtain required coverage
Category 7: Personal Identification
- Government-issued ID (driver's license or passport)
- Social Security number (for credit pull authorization)
Pro Tips for Faster Processing
- Get the marine survey ordered as soon as you're in contract — it's the longest-lead item
- Request the slip lease and dock association docs from the seller early — some sellers are slow to provide these
- Make sure all bank statements are complete (all pages, including blank pages at the end)
- Explain large or unusual deposits proactively — lenders will ask, better to answer before they do
- Have two years of tax returns organized before you start the process, especially if self-employed
Working With a Broker Who Knows What to Ask For
Different floating home lenders have slightly different documentation requirements. A broker who works with these lenders regularly knows exactly what each one needs — and can ask for the right documents upfront rather than going back and forth during underwriting. Paul Bergeron's office handles dozens of floating home transactions and knows each lender's checklist. Call Paul at (415) 332-7539 to start your pre-qualification.
Ready to talk financing?
Paul Bergeron is the only Sausalito broker who handles both the home and the loan. Call (415) 332-7539 or reach out below.