Construction Loan Checklist

All you need to know to get started!

When applying for a mortgage, we will request the following information for each applicant.

Please do not send any verification information until a bankESB representative requests the specific information required.

Other documents may be required to complete the application process. A bankESB loan representative will contact you in the event that additional documentation is needed.

Verification of Income

• Copies of your W-2's from the last two years.
• Copies of your most recent pay stubs from the last two weeks with year to date earnings
• Copies of Social Security checks, Retirement pensions, Disability checks. If any of these items are directly deposited into a Bank account, we will need a copy of your most recent statement showing these deposits.
• If self-employed, copies of your past two years' federal tax returns and a year-to-date profit and loss statement.
• If you own rental property, copies of your past two years' federal tax returns.
• Copies of your past three months' bank statements. These statements should include your address, account number, and balance.
• Copies of your past three months' additional income or asset statements. (i.e., stocks, bonds, mutual funds, IRAs, rental income, etc)
• Copy of your contract with your builder
• Copy of the plans and specifications
• Copy of the deed to the land

bankESB requires a signed contract with a licensed contractors for all construction loans.

Verification of Credit Expenses

• A list of outstanding loans including address, account numbers, monthly payment amounts, and outstanding balances
• A list of credit cards including account numbers and outstanding balances.

Verification of Property Purchase

• If you are purchasing property, please provide a Purchase and Sale agreement, fully executed by all parties.
  An Offer to Purchase may be substituted on a temporary basis.