Home Equity Loans and Lines of Credit Process

Here's what you can expect during the home equity loan and line of credit process – from application to closing.

  • The online application takes about 20 minutes to complete
  • We will ask questions about the properties you own, your income and your expenses
  • Once we receive your application, we will contact you if any additional information is needed
  • Next, we'll let you know if you've met our home equity lending requirements – and we will contact you if we need to request any additional information
  • If you apply for a Home Equity Loan or Line of Credit, you will also receive your Truth-in-Lending disclosure and Good Faith Estimate by mail
  • An evaluation of your property, which may include an appraisal with an interior inspection, is required – if an interior evaluation is required, your lending specialist will contact you to discuss the best time the appraiser or broker can reach you to set up an appointment
  • A loan underwriter will review your financial profile and compare it to the home equity loan requirements and guidelines for your chosen loan or line of credit
  • If approved, you will receive a written commitment of the terms and conditions and we will begin processing your loan or line of credit
  • Processing may include:
    • The verification of your financial information
    • Collection of documents to satisfy conditions of the commitment
    • A review of the appraisal of the property
  • The closing is a meeting with you, the lender and anyone else needed to finalize the transaction
  • At closing, paperwork will be signed and witnessed, and arrangements will be made for the loan to be disbursed to you
  • You must close your loan at a TD Bank location of your choice


The lending process

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