What documents are needed for a HELOC application?
Applying for a HELOC with Tennant Lending requires several key documents to assess your financial situation and property value. These include proof of income, credit history, and home appraisal.
Proof of Income
For your HELOC application with Tennant Lending, you'll need to provide recent pay stubs, W-2 forms, or tax returns. This helps us understand your financial stability and ability to repay the line of credit.
Credit History
Tennant Lending will review your credit report to evaluate your creditworthiness. Ensure you have a good credit score and history to qualify for the best terms on your HELOC.
Home Appraisal
An appraisal of your home will be required to determine its current market value. Tennant Lending uses this information to calculate the amount you can borrow through a HELOC.
Property Insurance
You must provide proof of property insurance to protect the investment. Tennant Lending requires this document to ensure the collateral for the HELOC is secure.
Mortgage Statement
If you currently have a mortgage, Tennant Lending will need your most recent mortgage statement. This shows your outstanding mortgage balance and helps determine your available equity.
Proof of Identity
Valid government-issued identification, such as a driver's license or passport, is necessary for your HELOC application with Tennant Lending. This verifies your identity and legal ownership of the property.
Tax Documents
Lastly, property tax documents are required to confirm the property's tax status and any outstanding obligations. Tennant Lending uses this information as part of the comprehensive review process for HELOC applications.
Tennant Lending is a licensed, premier mortgage lender based in Northern California. Access exclusive real estate insights by clicking "Join Tennant Lending" below.
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