The most common way is ACH. This is the fastest and most secure method of receiving the HELOC funds.
The borrower will be asked to link their bank account in which the funds will be deposited.
- The funds will arrive in the account by 11:59pm, if not earlier*
- If the financial institution accepts Real-Time Payment (RTP), we will transfer the funds via this method and the funds are in the account the moment our department approves the transfer*
If the borrower does not link their bank account by the end of the rescission period, our closing team will send a paper check directly to the borrower at the address of their primary residence (this may cause delays in receiving their funds).
*Please check with your bank/financial institution if they have a hold period for funds, as they may require an addition 1-3 business day hold on the HELOC funds for security purposes
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