Home Equity Checklist
You’ve made the decision that a home equity loan is right for you, now what? Learn about some of the documents and information you will need to have on hand when applying for your home equity loan or line of credit.
Current Mortgage Information
- Your outstanding mortgage balance
- Your current monthly payment
- Name of the lender that holds your current first mortgage
Property Information
- Your property type (primary residence, vacation home, investment property)
- Year your property was built
- Address
- County where your property is located
- Approximate appraised value of your home in today's market
Liabilities
- Names of Creditors that you owe money to
- Amounts owed to each creditor
- Your total amount of debt
- How often you pay on this debt
- Total monthly payments on outstanding debt
- Original amount of your debts
Personal Information (Borrower and Co-borrower(s))
- Name of persons on loan
- Social Security numbers
- Phone number(s)
- Amount of time at current residence (if less than 2 years, previous address information)
- Marital status
Employment Information
- Employment status
- Employer’s name
- Your job title
- Length of time at your job
- Your work phone number
- Type of work you do
- Monthly income
- Additional sources of income (investment / pension accounts, additional jobs)