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Home Equity Loan Process
You may ask yourself, "What do I need to start my Home Equity Line of Credit application process?" At NBT Bank, we understand that your time is important. That's why we created this easy to follow page to help guide you through the process of applying for a Home Equity Line of Credit.
Step 1: Prior to Applying
Step 2: Apply
Step 3: Send Documents
Step 4: Before You Close
Step 5: Closing
Step 1: Prior to Applying
- Check your Annual Credit Report
- Determine what you can afford
- Glossary
- Additional Information
Step 2: Apply
The loan application process should take approximately 10 minutes. Having the following items available for reference will assist you with the application process:
- Driver's License, Passport, Military ID or State ID
- U.S. Social Security Number
- U.S. Citizenship or Resident Alien Status
- A current paycheck stub and/or employment information
- Download the full application checklist.
Step 3: Send Documents
Once you complete the application information and submit your application, you will receive a confirmation e-mail.
An NBT Bank Home Lending Specialist will contact you within one business day of your application submission. We will contact you via the preferred method you provided within the loan application process.
Step 4: Before You Close
During the application process, a team of experts will be working together to ensure that your Home Equity request is processed seamlessly.
- Your NBT Bank Home Lending Specialist will place orders for a property appraisal or evaluation report, a flood determination, a title search, and title insurance (if applicable).
- Once we have reviewed and approved all of your documentation and information, a final approval will be granted on your loan.
Step 5: Closing
Once final approval is granted and your NBT Bank Home Lending Specialist has cleared your file for closing; they will work with you to schedule your loan closing. Loan closings will take place at an NBT Bank Branch location nearest you.
- A closing package will be prepared, each borrower will need to sign the documents and your home equity account will be established.
