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Knowledge Base Article

Joint owner apply for home equity loan

Can a joint owner on a 1st Mortgage apply for a Home Equity Loan? If so, does the joint owner on the 1st Mortgage already need to be a member with Delta Community?

Yes. A joint owner can apply for a home equity loan. However, if they will be the primary borrower on the new loan they will need to be a primary account holder of a Delta Community savings account, as well.