How to Apply for a HELOC

How to Apply for a HELOC

A HELOC, or Home Equity Line of Credit, leverages your home’s equity to give you more flexibility compared to other loans — you can borrow up to your maximum credit limit, when you need it, as you need it. Whether you’re planning a kitchen remodel, upgrading to energy efficient appliances, consolidating debt, or simply want the peace of mind that it’s there to cover an emergency, a HELOC is the perfect pairing for your mortgage.

HELOC Application Checklist

  1. Apply online.
  2. Gather your documents:
    • Mortgage Statement
    • Homeowner’s Insurance Declaration Page
    • Income statements:
      • If employed: 2 most recent paystubs & last year’s W2.
      • If self-employed: last 2 years tax returns including all schedules; Corporation/Partnership – we need 2 years corporate returns and K1s along with current P&L, if 2019 tax returns have not been filed.
      • If using rental income: last 2 years tax returns, copy of the current mortgage statement and homeowners insurance declaration page for that property.
      • If retired: copy of current pension and/or social security award letters, copies of current investment/brokerage statements.
    • Note: Additional documents may be requested
  3. Your Loan Processor will reach out to review your application and collect your documents for processing.
  4. Sign your loan documents.



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