SunTrust Mortgage, Inc. - Alt Doc Option


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alternate documentation option

Alt Doc is shorthand for alternate documentation. It is a method of verifying the information on a mortgage loan application. Instead of relying on verification forms that need to be sent out to creditors, landlords, employers and others, it uses information that the borrower can provide to us directly.

You can come to your mortgage loan application with this information in hand and be well along on your way to approval.

Here are the major components of alternate documentation. Of course, certain circumstances will require additional paperwork. Your SunTrust Mortgage Specialist will advise you of what you need in your particular case. You can't go wrong, however, if you come to loan application with this information in hand:

Paystubs for the last 30 days (may only need the most recent paystub, depending on loan program)
W2s for the last two years (may only need last year's, depending on the loan program)
All pages of original bank account, stock account or mutual fund statements for the last three months (may only need two, depending on loan program)
Settlement statement from sale of previous home, if these funds will be used to purchase new home
Copies of canceled checks (front and back)for the last 12 months of rent or mortgage payments and a copy of the rental agreement, if renting. (This is not even necessary if the mortgage or rental history for the last 12 months appears on the credit report.)
If borrower is self-employed, tax returns will be required

To see examples of monthly payment terms, view our APR Examples

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