A copy of your property insurance policy (preferably a home owner's policy)
If we inform you that your property is located in a special flood-hazard area, we will also need a certificate of flood insurance.
These insurance policies must have a loss-payee clause in favor of Security Service Federal Credit Union in an amount sufficient to cover your equity loan balance plus the balance of your mortgage and any other liens on your property, or the replacement value of your home, whichever is less.
At the time of settlement, legal documents pertaining to an approved equity loan will be signed by all owners of the property.
