BankChampaignLogo
Log in to your accounts
Banking Access
Trust Access

Personal Banking
Personal Checking
Savings & Investments
Personal Loans
Mortgages
Spacer
Business Banking
Business Checking
Business Loans
Cash Management
Retirement Plans
Spacer
Electronic Services
Online Banking
Mobile Banking
Debit Cards
Identity Theft & Online Fraud
spacer
Investment Services
Investment Management
Financial Planning
IRA Rollovers
Trust Services
Retirement Plans
Mark's Investment Blog button

spacer online and mobile bullets mortgage rates bullets deposit rates bullets order checks
directory locations and hours about us employment

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.
 

 

  217.351.2870 | Member FDIC | Equal Housing Lender | Privacy Policy | ©2013 BankChampaign | Site Map | Home