Application Checklist

We want to make your application process as easy as possible. So, when you're ready to submit your formal application, collect the following information and bring it with you when you meet with us or apply online. Be sure to include both borrower and co-borrower information.

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Loan Application Checklist

  • Income verification. W-2 statement for the last 2 years. Signed copies of federal tax returns including schedules and statements for the past 2 years. Your two most recent pay stub(s) showing year-to-date earnings. The pay stub should show your employers name and address. If self-employed, copies of your last two year's tax returns with supporting schedules and current Personal Financial Statement.
  • Other income. Examples include Current Awards Letter, Pension Statement, 1099, and Divorce Decree. Also include any amendments and a 12-month payment history of alimony and/or child support payments.
  • Residency information. Names and addresses of all landlords for the past two years.
  • Assets information. List of assets - what you own. Cash value of life insurance policies. The make, model, year and value of vehicles; depository institution names and addresses, account numbers, and current balances of all deposit and/or investment accounts or copies of your last two month's statements including IRAs, CDs, Savings, Checking, Retirement and Brokerage accounts.
  • Credit information. List of liabilities - what you owe. Financial institution names and addresses, account numbers, monthly payment amounts, and balances for all outstanding personal and auto loans; credit cards; real estate owned; and any other installment payments (including alimony/child support payments).
  • Contract and deposit information. You'll need a signed copy of your purchase and sales contract. This shows that you and the owner have accepted your offer along with a legal description of the property being purchased. You'll also need receipts of the earnest money deposit toward the property. Earnest money is a deposit you make to show you are serious about buying the house.
  • Employer contact information. Please provide a contact name and fax number for all applicable employers’ for verification purposes for the last two years. Should your employer(s) use a third party service for verification of employment and/or income, you'll need to provide a salary key(s).
  • Construction plans. Include copies of signed contracts, estimates, permits, plans and other documents related to proposed new construction (if applicable). View the Construction Application Checklist.

Print Loan Application Checklist

Contact Us

Apply online or call your local branch for current rate information or to speak with a mortgage specialist today.

This checklist is a general overview of the information required for a formal mortgage application. Individual situations may require additional documents prior to making a credit decision. All loans are subject to credit approval. The rate depends on the type and term of the loan. In most cases an appraisal is required; we may order an appraisal to determine the property’s value and charge you for this appraisal. The fee will need to be collected before the appraisal is ordered. We will promptly give you a copy of any appraisal, even if your loan does not close. You can pay for an additional appraisal for your own use at your own cost.

Construction Application Checklist

Items required to be submitted with application:

  • Verification of income for all borrowers.
  • Signed copies of federal income tax returns for the prior two years. Also a recent pay stub showing year to date income. For self-employed borrowers, provide three years of tax returns and year to date income statement.
  • Proof of funds being contributed to the project. This includes recent bank statements, receipts for deposits on land, gift letter, etc.
  • A list of all contractors and subcontractors involved in the construction.
  • Copies of all signed contracts.
  • Complete plans for the project.
  • Written cost estimates for all phases of the construction project.
  • Purchase and sale agreement signed by all parties. (When land purchase is part of the project)
  • Completed Katahdin Trust application package.
  • Contract with modular / manufactured home dealer signed by all parties, if applicable.
  • Warranty deed and abstract.

Print Construction Application Checklist

 

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