Mortgage Signing · 5 min read
HELOC vs. Refinance Packages: Signing Differences
HELOCs are shorter, faster, and use a different rescission timeline than a refinance. Here's what to watch for.
A Home Equity Line of Credit (HELOC) package typically runs 40–60 pages — half the size of a refinance. There's no Loan Estimate or Closing Disclosure; instead, the borrower receives a HELOC disclosure and a variable-rate addendum.
The three-day Right to Cancel still applies for primary residences. The funding date is the day after rescission expires, just like a refinance.
Second-mortgage HELOCs may not require title insurance. Construction-draw HELOCs include additional draw-request forms. Confirm package type before printing — pulling the wrong template wastes the borrower's time and your toner.