Home Equity

How Long Does it Take to Get a Home Equity Loan?

By Tom Burchnell

If you’re in need of a quick influx of cash to meet short-term financial properties, it can be tempting to access your home’s equity by taking out a home equity loan, home equity line of credit, or a reverse mortgage. Accessing the equity you’ve built in your home can enable you to pay off medical bills or even place an offer on a second home.

But how fast is fast? How long does it take to access your home equity? And more specifically, how long does it take to get a home equity loan?

While your timeline will vary based on a number of factors, most loans can be processed in about two to four weeks. This guide will go over the timeline for taking out a home equity loan and the considerations to keep in mind along the way.

How Long Does it Take to Get a Home Equity Loan on Average?

“How long does a home equity loan take?” is a three-part question because there are three steps to accomplish before you can get your money. The longer it takes for each step, the longer the timeline for receiving your funds. 

The steps are:

  1. Application – You assemble all necessary documents and apply for the loan.
  2. Processing – Your bank processes your application.
  3. Closing – You set a closing date and sign all documents.

As we noted, this three-step process generally takes between two and four weeks. If you plan to shop around for the best interest rate available or haven’t decided between a fixed rate or variable rate, you should factor that into the timeline.

While you can’t control your bank’s timeline, you can control your level of preparedness. To that end, we’ll take a deep dive into each part of the process.

The Process of Getting a Home Equity Loan

A homeowner walks into a bank, tells them their homes value, and leaves with a bag of cash. 

If only it were that easy.

Lenders have many processes to minimize their own risk which complicates things as you shop for the right loan offer. However, if you know what to expect, you can help move the process along as efficiently as possible. 


Often referred to as a “second mortgage,” the process of acquiring a home equity loan is very similar to a regular mortgage. The first step in getting your home equity loan is applying for it. To make sure this process goes smoothly, you’ll want to be sure to have certain documents handy:

  • Mortgage statement – Since your lender will be looking at the current balance of your mortgage, you’ll need to provide the most recent statement possible.
  • Property tax bill – You’ll also need a copy of your property’s deed.
  • Documents to verify your income – In most cases, you’ll need recent pay stubs, tax documents going back multiple years, and verification for any additional income.

In some cases, you may also need to show a trust agreement. 

Once you have all these documents, you can get on with the application process. Thankfully, lenders are making this process easier, with many offering online applications. 

If you’ve applied for several loans, select the lender with the lower interest rate and the best terms. Keep in mind that lenders will often negotiate interest rates to beat competitors’ pricing. Then, sign the necessary documents to move forward with loan processing.

Key Takeaways

If you’re in need of cash to meet short-term financial needs, you might wonder how long it takes for a home equity loan. If you are unsure of alternative options to secure cash, consult a financial advisor to discuss your options.

Home Equity Loan
Written by Tom Burchnell
Director of Product Marketing

This article is published for educational and informational purposes only. This article is not offered as advice and should not be relied on as such. This content is based on research and/or other relevant articles and contains trusted sources, but does not express the concerns of EasyKnock. Our goal at EasyKnock is to provide readers with up-to-date and objective resources on real estate and mortgage-related topics. Our content is written by experienced contributors in the finance and real-estate space and all articles undergo an in-depth review process. EasyKnock is not a debt collector, a collection agency, nor a credit counseling service company.