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Are disclosures affected if after the initial application the homebuyer adds a home equity loan or a line of credit?

April 26, 2017adds affected application disclosures home equity homebuyer initial line of credit loan

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Are disclosures affected if after the initial application the homebuyer adds a home equity loan or a line of credit?

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There is not an affect if the homebuyer adds a home equity line of credit. However, if the homebuyer adds a home equity loan, the initial disclosure time period begins again, and it is required that the same disclosure requirements be followed for the home equity loan.