Application Process – Home Improvement Loan

When you apply for a Texans Home Improvement Loan, we ask that you provide the following information and documents:

• A completed paper application or online application
• Pay stubs for the last 30 days
• W2 for the previous year
• Mortgage statement(s) showing current balance(s) and monthly payment(s)
• Copy of Deed of Trust
• Declaration page from Homeowner's insurance policy
• Proposals from contractor(s)
• If self-employed or if income is from commissions, interest, dividends or rental properties:
  • Complete tax returns for the last two (2) years and YTD Profit & Loss statement
• If divorced:
  • copy of fully executed divorce decree

Additional items may be required upon receipt and review of any of the above.

Please note the following Home Equity Loan / HELOC requirements:

• Work must not have begun on the property.
• Loan must not exceed the amount of the Contract/Proposal.
• Property must be your homestead.
• Improvements to mobile homes do not qualify.
• Closing may not occur before the fifth (5th) day after the lender receives an executed credit application.
• There is a three (3) day Right of Rescission period after the loan documents are signed, before the loan proceeds will be disbursed. (Sundays and some legal holidays are excluded.)
• The member, spouse and contractor must be present at closing in the office of the lender, title company or an attorney.
• No closing costs or fees (appraisal, title, application, processing fees, etc.).

For more information on Texans Home Improvement Loans or the application process, please contact our Lending Center at 972.348.2407 or 800.323.1789.