What Documents Do I Need For A Home Equity Loan

Home Equity Loans and Credit Lines | Consumer Information – With a home equity loan, the lender advances you the total loan amount upfront, while a home equity credit line provides a source of funds that you can draw on as needed. When considering a home equity loan or credit line, shop around and compare loan plans offered by banks, savings and loans, credit unions, and mortgage companies.

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The 3 most important requirements to borrow from home equity.. a home equity loan, home equity line of credit or cash-out. Tap into the value you have in your home to get the funds you need.

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"If you have any unusual income or circumstances, you’ll need to provide other documents," says Peter Boyle, a senior loan originator at Summit Mortgage Corporation in Plymouth, Minnesota. "For instance, if you’re divorced, I need to see a decree. If you filed bankruptcy, I need a full copy of the discharge documents.

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Application documents you need to apply for a loan. This paperwork is used by your mortgage lender to verify your income and assets. Learn more about what types of documents you may be asked to provide.