Thinking about tapping into your home’s equity with HELOC For Seniors®? You may be wondering what the process looks like and how long it takes. The good news: it’s simple, secure, and designed with your convenience in mind. Here’s an overview of what you can expect—from application to funding and beyond.
Step 1: Application & Account Setup
Getting started begins with a short online application. You’ll share basic information about the property you’re intending to finance, along with some details about your income and how it’s earned. You’ll also provide your full legal name and date of birth to verify that you’re at least 62 years old.
Next, you’ll create a secure online account using your mobile number and email address. This account is where we’ll send your pre-qualification details and keep you updated throughout the process.
Step 2: Pre-Qualification
Once you’ve completed the online application, you’ll receive a pre-qualified offer based on key factors like your home’s value, available equity, and overall financial profile.
Your pre-qualified will outline your total credit limit (the maximum line of credit available), the initial amount you can draw at closing, and any applicable origination fees (where allowed by state law).
You’ll be able to view and compare different loan options—all displayed clearly in your secure online account—so you can choose what best fits your needs. At this point, your offer is still preliminary and based on a soft credit check, which means there’s no impact on your credit score.1
Step 3: Documentation & Verification
After reviewing your pre-qualified offer, you’ll verify your information so we can move your application forward. Here’s what happens next:
- Identity Verification
You’ll upload a valid photo ID (such as a driver’s license or passport) to confirm your identity. The image must clearly show all corners and details—no blurry photos. - Income Verification
Your income can typically be verified automatically by connecting your online accounts. In some cases, we may ask for a recent paystub or award letter to help confirm income details.
For many applicants, eligibility is based more on home equity, assets, and overall financial profile than on income alone. Verification is handled electronically through trusted third-party systems, so the process stays simple, secure, and paper-free.
Your application will stay active for 14 days if you haven’t yet linked your accounts. If the application expires, don’t worry—you can reapply using the same email address. Just keep in mind that rates and qualifications may change over time.
Step 4: Final Verification
Once all documentation is submitted, your application moves into final verification—a quick review to confirm all information is complete and current before closing. This step includes:
- A hard credit pull, which provides a full credit report for underwriting (this may impact your credit score).
- A property valuation review, using an Automated Valuation Model (AVM) to confirm your home’s current market value. In some cases, we may also request a secondary valuation or property condition review.
- A final look at your verified income, assets, and debts to ensure your loan terms still align with program guidelines.
If anything has changed—like your home’s value or financial profile—your final loan amount may be adjusted slightly, or you may be asked to re-select from updated offers. Once everything is confirmed, your loan moves to closing and funding.
Step 5: eNotary & Funding
When it’s time to sign your closing documents, we make the process quick and convenient. In most areas, signing can be completed electronically through our secure eNotary platform.
You’ll log into your customer dashboard and select “Talk to a Notary.” From there, you’ll connect with a certified eNotary over a brief video conference—all you need is a device with a camera and microphone. The notary will guide you through each step, and the entire session typically takes about 10 minutes.
eNotary appointments are available Monday through Saturday, from 7 a.m. to 5 p.m. Pacific Time (excluding major holidays). If your county requires a traditional, in-person signing, we’ll arrange a convenient appointment with our notary partner at a date, time, and location that works for you.
Once signing is complete—and after a short rescission period—your funds are deposited directly into your account via ACH, usually within a few days.
Step 6: Servicing & Account Management
After funding, you’ll receive a welcome letter introducing our servicing partner. This letter includes your account information, payment instructions, and contact details in case you ever need assistance. From there, your HELOC For Seniors® line of credit is officially active and ready for use.
The servicing team is here to support you long after closing—helping you manage your account and ensuring you continue to get the most from your line of credit.
The Bottom Line
The HELOC For Seniors® process is designed to be as simple and transparent as possible, giving you quick access to your home’s equity—without the headaches of traditional bank HELOCs. The process is simple, the technology is intuitive, and help is always within reach.
You can complete the online application in as little as 10 minutes, and with quick funding and flexible qualification, you could access up to $400,0002 in just a few days—not weeks.3
And just like the process, the product itself was built to make life easier, with:
- Interest-only monthly payments—for life (as long as you keep up with your property taxes, insurance, and maintenance)
- No variable rate surprises—with a fixed rate on each draw4
- Qualification based on your home equity and assets—even on fixed income
Ready to Take the Next Step?
Checking eligibility is quick and easy—and it only requires a soft credit check, so there’s no impact on your credit score.1
Take the first step and start your application today to see how HELOC For Seniors® can help you enjoy life with greater confidence, flexibility, and freedom.