The Online Home Equity Loan Application Process

Application

The online home equity loan application takes about 20 minutes to complete and will ask you questions about your home and finances. Once you complete and submit your application, we’ll review your request for approval. There is no cost at all for completing the application.

After your application is completed, a Loan Officer will contact you within 24 hours (excluding weekends and holidays) to introduce him/herself and answer any questions you may have.

Your Loan Officer will then send you an application kit that contains papers for you to sign and a list of items that we will need to verify the information you provided during the online application. Your Loan Officer is available to answer any questions and guide you through the process.

Appraisal

Different types of appraisals are used based on your finances, the type of property, and the loan amount requested.

Underwriting/Commitment

We will review your financial profile and compare it to the guidelines for your chosen product. We will review the documentation received from you to verify the information you provided during the online application. Upon approval of the documentation, you will receive a written commitment of the equity line terms and conditions.

Processing

The Loan Officer will monitor the application process through to the closing. Processing includes the verification of your financial information, collection of documents to satisfy any conditions of the loan commitment, and a review of the tax assessment or appraisal of the property. Please feel free to contact the Loan Officer and he/she will be happy to answer any questions you may have.

Closing

The Loan Officer will contact you to arrange a closing at one of our branch locations convenient to you. The loan closing is a meeting with you and the Loan Officer or Branch Manager to finalize the loan transaction. During the closing, paperwork associated with the transaction will be signed and witnessed and final arrangements will be made for the disbursement of the loan proceeds. If the loan is to be secured by your primary residence, Federal and State Laws require that you have three business days to decide positively that you want this home equity loan after you sign the documents. This means that the loan funds won’t be disbursed until three business days have passed. The Loan Officer or Branch Manager will provide more details at the closing.

That’s all there is to it! Apply now and begin the most efficient way to apply for a home equity loan.