A Guide to Mortgage Requirements at CTB

Buying a home is a significant milestone, and at Capital Trust Bank (CTB) in Cameroon, we’re committed to making that dream a reality. We understand that the mortgage application process can seem daunting, particularly when it comes to gathering the necessary documents. This article serves as your guide, explaining what you’ll need, why it’s important, and how we’re here to support you every step of the way. By preparing all necessary documents, you can streamline your application and get closer to owning your dream home.

Why Documentation Matters:

Before delving into the specifics, it’s important to understand why we ask for certain documents. As a responsible lender, CTB needs to verify your identity, income, and financial stability to ensure we can provide you with a mortgage that aligns with your financial capacity. This process protects both you and the bank, and ensures we’re making responsible lending decisions. Clear, accurate documentation also allows us to expedite the application process so that you can focus on planning your new life.

Essential Documents for Mortgage Applications at CTB:

While specific requirements may vary slightly depending on your individual circumstances, here’s a comprehensive list of documents you’ll likely need:

1. Identification Documents:
• National Identity Card or Passport: A copy of your valid national identity card or passport to verify your identity.
• Birth Certificate: To confirm your birth date and place of birth.
2. Proof of Income:
• Salary Slips: Original salary slips for the past three to six months (depending on your employer) to demonstrate your regular earnings.
• Employment Contract or Letter: A copy of your current employment contract or an official letter from your employer confirming your employment status, your role and your salary.
• Bank Statements: Statements from your bank account(s) for the past six to twelve months, showing your income deposits, and regular transactions.
• For Self-Employed Individuals: Business registration documents, financial statements for the past two years, and business bank statements showing regular business income.
3. Proof of Residence:
• Utility Bill: A recent utility bill (electricity, water, or phone) in your name, showing your current address.
• Tenancy Agreement: If you are renting, a copy of your tenancy agreement may be required.
4. Property-Related Documents:
• Land Title: A certified copy of the land title for the property you intend to purchase or use as collateral.
• Sales Agreement: A copy of the preliminary sales agreement if you are purchasing a property.
• Architectural Plans: If you are building, you will need a copy of the architectural plans for the proposed building, including details about material use and total cost estimate.
• Valuation Report: CTB has a list of qualified valuers that are used to ascertain the true market value of the property in question.
5. Financial Statements:
• Personal Financial Statement: This will be a personal overview of all your assets and liabilities.
• Any existing loans or debts should be included to give a complete overview of your financial position.

Streamlining the Process at CTB:

At CTB, we’re committed to making the documentation process as smooth and efficient as possible. We have a dedicated team of mortgage specialists who are available to guide you through each step and answer all your questions. We offer:

• Clear Guidance: Our team will provide you with a clear checklist and detailed instructions for gathering your documents.
• Online Resources: We have online resources available on our website with additional information and tools to help you prepare for your application.
• Personal Assistance: Our mortgage specialists are ready to assist you with any challenges or questions, ensuring you feel confident throughout the process.
• Flexible Submission: You can submit your documents at any of our branches, and can also submit some documents online via our secure portal.
• Transparent Process: You will be kept informed about the status of your application and if there are any challenges that need to be resolved.

Securing a mortgage is a significant step toward home ownership, and at Capital Trust Bank, we are dedicated to supporting you throughout the process. By preparing all necessary documents and working closely with our expert team, you’ll be well on your way to achieving your goal of owning your dream home. We invite you to visit any of our branches to discuss your options or contact us online. Let us help you document your dreams and make them a reality.

• Visit a CTB branch near you.
• Explore our mortgage options online.
• Contact a mortgage specialist today.