Loan Details & Servicing Disclosure

Home Equity Line of Credit (HELOC) Risk Disclosure

Home Equity Lines of Credit (HELOCs) are secured by your home. Missing payments or exceeding your borrowing limit can result in foreclosure. Additionally, variable rates can increase your monthly payments. It’s important to understand the risks associated with HELOCs before applying, and consulting with a financial advisor is recommended.

Loan Estimate Disclosure

Within three business days of your application, you will receive a Loan Estimate outlining the loan terms, estimated monthly payments, interest rate, and closing costs. This document helps you compare offers and make informed decisions. Be sure to review the estimate carefully before proceeding.

Closing Costs Disclosure

Closing costs typically range from 2% to 5% of the loan amount and may include origination fees, appraisal fees, title insurance, and taxes. We provide a detailed estimate upfront to ensure transparency. Be aware that final costs may vary based on factors specific to your loan.

Refinance Disclosure

Refinancing replaces your current mortgage with a new one. While it can lower your monthly payment or interest rate, refinancing may extend your loan term and increase total interest paid over time. Consider potential savings, fees, and long-term costs before deciding to refinance.

Servicing Disclosure

Your mortgage may be serviced by Horizon Home Loans or transferred to another servicer. You will be notified of any changes to your loan servicing. All rights and obligations under your loan agreement will remain the same, regardless of the servicer.