Alt-Doc Loans Using W-2s and Paycheck Stubs as Income

LENDERLINE® is currently offering alternative documentation mortgages using W-2s and paycheck stubs as income under the following guidelines:

  • The property must be located in the State of California.
  • Most recent 2 years’ W-2s and most recent 30 days’ paycheck stubs used as income.
  • No tax returns.
  • No 4506-T.
  • Up to 90% loan-to-value with 700 minimum credit score.
  • Up to 85% loan-to-value with 650 minimum credit score.
  • Up to 43% debt-to-income ratio.
  • SFR, PUD, condo, townhouse and 2-4 units allowed.
  • First time home buyers allowed (85% LTV maximum).
  • $150,000 minimum loan amount.
  • $3,000,000 maximum loan amount.
  • Owner-occupied properties only.
  • Purchase, rate and term, or cash out refinance.
  • As low as 6 months PITI reserves (see underwriting guidelines).
  • 2 months seasoning for down payment/reserves.
  • Gift funds allowed for down payment and closing costs.
  • Reserves must come from borrowers own funds.
  • Available as a 5/1 ARM, 7/1 ARM or 30-year fixed.
  • Interest-only option available (see underwriting guidelines and pricing adjustment).
  • Impounding of property taxes and hazard insurance required.
  • No prepayment penalty.

To download underwriting guidelines
for our alt-doc loans that use W2s and paycheck stubs as income:

To download a loan application
for our alt-doc loans that use w2s and paycheck stubs as income:

LENDERLINE® is your alt-doc W-2 and paycheck stub lender of choice. We offer many mortgage types, including our W-2 and paycheck stub mortgage loan program, which is also known as an alt-doc loan.

Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.

  • Obtaining a mortgage through Lenderline was by far the best loan process we have ever experienced.

    Jay M.

    Northridge, CA

  • We have purchased and/or refinanced 4 rental properties and 3 different residences... In all those years, we have never dealt with such a professional broker.

    Toni M.

    Westlake Village, CA

  • Lenderline got us a cash-out refinance using 24 months bank statements as income, no tax returns, no 1099, and no 4506-T. They had just the loan product we were looking for, their rates were good, and their attention to detail was outstanding. I have already referred some of my friends.

    Thomas J.

    Perris, CA

  • I was at the end of my rope. Other lenders had turned me down due to a recent short sale, and I had a hard money loan with a balloon payment that was coming due. Lenderline was able to pay off my hard money loan, lower my interest rate, and provide some additional cash out at closing. What a lifesaver!

    Hector R.

    Northridge, CA

  • I had no FICO scores, and Lenderline was able to get me an FHA loan with only 3.5% down. My mortgage payment is less than my rent was, and I am now a happy homeowner thanks to the awesome loan agents at Lenderline.

    Edwin D.

    Los Angeles, CA