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Personal Banking>Mortgages>Checklist

What to bring when you apply for your mortgage

Verification of income
Pay stub(s) -- most recent for borrower and co-borrower(s), covering 30 days.
Employment information -- name, address and telephone number for the last two years, dates of employment and income. (Include explanation of employment gaps, if applicable.)
Federal tax returns -- copies of personal federal income tax returns from the previous two years and all schedules.
Corporation/Partnership – if you hold 25% or more interest in a business, you need corporate and/or partnership federal tax returns for two years, as well as a year-to-date profit/loss statement and balance sheet.
Other income and public assistance -- income from alimony, child support, separate maintenance, public assistance or retirement benefits must be proven to continue for a minimum of three years. You will need a written agreement(s) or court decree(s).

Verification of Funds to Close
Bank statements -- three months’ recent statements for checking and savings accounts or name, address, telephone number and account numbers of financial institution.
Stocks, bonds and investment accounts -- three months’ recent statements or the original stock certificate. A list of serial numbers and issue dates may be acceptable for verifying bonds.
Equity in the present home -- a signed copy of the sales contract and a copy of the HUD-1 settlement statement.
Gifts -- if source of down payment is a gift, a signed letter is needed from the donor to verify that you are not required to repay funds (forms available at bank).
Retirement plan -- if funds are used for down payment and closing costs, a copy of most recent statement is required. If not, an approximate value of vested interest is needed.

Verification of Credit
Credit information from each open account -- creditor name, address, account number, payment amount, current balance (includes credit cards).

Verification of Residency
Name, address and telephone number -- lender and/or landlord for the last two years.

Additional Documents That May Be Required
Residential sales contract -- a copy with buyer's and seller's signatures
Earnest deposit -- a copy of the check or receipt (if more than 2% of the purchase price).
Self-employed borrower -- previous two years' and current year-to-date profit and loss statements, balance sheets and previous two years' signed business tax returns with all schedules and W-2s attached.
Divorced or separated -- copy of divorce decree and settlement agreement with amendments.
Construction loan -- proposed construction contract with cost breakdown, builder's plans and specifications.
Past bankruptcy -- letter explaining reason for bankruptcy, discharge papers and schedule of bankruptcy.
Other real estate -- complete schedule of real estate (forms available at bank).
Recent college graduates -- if less than two years on the job, copy of your final transcript.


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