2. Verify Your Income. In the overheated market of the early 2000s, the "no-doc" loan was really popular! It was known as the "sign and drive." Now, as banks are licking their wounds from those aggressive policies, and new regulations are in place, income must be verified on all loans. On smaller boats, this may mean supplying a year-end pay stub, or W-2, for 2012. On boats in excess of $100,000, be prepared to submit two years' worth of tax returns with all schedules. Naturally, for those who are self-employed, business tax returns must also be made available.