Home Equity Loan Application

Thank you for your interest in a Home Equity Line of Credit with The State Bank Group

In order to review your request for a Home Equity Line of Credit, our underwriters require that you submit a completed Consumer Loan Application and read and sign several disclosures and other forms.  Other items may be requested in order to process your application.  If your application is approved, the following documents will be required.

  • W-2 forms from prior two years. 
  • Most current two months of pay stubs with Year-to-Date (YTD) YTD information.  (If YTD information is not listed on pay stub, letter from employer on letterhead, dated and signed, including current pay, current YTD, start date, expected continuation of employment will suffice.)
  • Most current two months of bank statements for all deposit accounts (all pages).
  • Statements for all asset accounts (i.e.: 401k, IRA, HSA, Mutual funds, Annuities, etc. (all pages).
  • Name & address of current mortgage holder and/or landlord for prior two years.
  • Name & address of all employers from prior two years.
  • Homeowner’s insurance declaration page.
  • Statement showing current mortgage balance.

The following additional documents will be required as part of the approval process ONLY if applicable to you: 

  • If self-employed or commissioned, Personal Tax Returns from prior two years (signed) with all Schedules.
  • If self-employed, Business Tax Returns  from prior two years, as well as Year-to-Date (YTD) Profit and Loss Statements.
  • Letter of explanation for any gaps of employment (dated and signed).
  • If property is held in a trust, a certified copy of the trust agreement.
  • If using alimony, child support or separate maintenance as a source of repayment, a copy of divorce decree.

The following documents will not be required as part of the approval process; however, we may request them later in the process in order to complete your application:

  • Deed or owner’s title policy
  • Plat of survey

 

Click for Application Packet

You may drop off application materials at any branch location;  mail to The State Bank Group, Post Office Box 350, Wonder Lake, Illinois 60097;  or email using Secure Email.
To register for Secure Email click here: https://www.thestatebankgroup.com/secure-email. Do not transmit personal financial documents via email, unless using an encrypted, secure email system.

Please contact Mike McCauley or Jim King with any questions regarding the application process.

Mike McCauley, Loan Officer
NMLS #655246
815-943-8604
Jim King, Loan Officer
NMLS #418491
815-728-8619