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The Home Equity Process

Learn the application process, step-by-step

If you need to finance a major purchase, home repair, or unexpected expense, using the equity in your home could be an alternative to using other higher-interest financing options. We offer low rates and easy, in-house processing. Talk to a Horizon Bank loan advisor about finding the right loan plan for your financial needs!

OriginationVisit a loan advisor to determine the best loan to fit your financial needs, and submit the application. You may also apply online.
ProcessingDuring processing, we will communicate what type of appraisal, title, and additional documentation we will need to evaluate your loan. The quicker we receive the requested documentation, the quicker your loan can move through this stage.
UnderwritingAn underwriter will review your loan to evaluate its approval. Additional supporting documents may be needed.
Clear to CloseThe Clear to Close indicates that all processing and underwriting conditions have been met, and your loan is approved! Bank regulations may require that you receive your closing documentation 3-7 days before your closing may be scheduled.
Closing & FundingDuring closing and funding, you will sign all the necessary documents to finalize your loan, and the 3-day right of rescission period will begin. Once the rescission period expires, the funds are yours. Congratulations!



If you apply for a loan and intend to close within 30 days of property taxes being due, we will need proof that your property taxes are being escrowed on your first mortgage or proof that your taxes have been paid.

Prepare with our application document checklist

  • Wages: Most recent paystubs and most recent W-2. 
  • SSL Disability, Investments, and/or Pension Income: Award Letters, 1099s, or direct deposit statements from the past three consecutive months. 
  • Self-Employed, Rental, or Other Income: Federal Personal Tax returns for the past two years
    • Self-employed borrowers must provide two years of Federal Business Tax returns including all schedules and K-1s
    • Rental income verification: also requires copies of recent mortgage statements
    • Verification of any other income: provide documentation to support three year continuance. Example: Child support, alimony, etc.
  • Child support and/or alimony obligations - if applicable
  • Current mortgage statement required
  • Real estate taxes (from tax bill, website, HUD)
  • Homeowners insurance (declaration page with annual premium and expiration date)
  • Homeowners Association dues (if applicable - annual statement or letter)
  • Flood insurance (if applicable - from homeowners insurance information)
  • Do not send the trust documents
  • Copies of all recent statement past 30 days for accounts to be consolidated
  • Statements must include account holder name, current amount, full account number, and address to mail payoff

Other documents may be requested upon further review of your file. 
All documentation should be received within 10 calendar days of application. 

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