A Georgia lender takes an application for a home equity line of credit in 2026. Does this HELOC use the Loan Estimate and Closing Disclosure or the applicable separate federal disclosures?
Correct Answer
B) Federal disclosures apply instead of the Loan Estimate and Closing form
For a home equity line of credit, a residential mortgage loan not secured by real property such as a mobile home, or a reverse mortgage, the lender gives all disclosures required by federal law instead of the Loan Estimate and Closing Disclosure the rule otherwise specifies. Other choices: those two forms are the ones displaced; disclosures are plainly required; and the rule substitutes rather than stacks them. Source: Ga. Comp. R. & Regs. 80-11-1-.01(3)
Why This Is the Correct Answer
For a home equity line of credit, a residential mortgage loan not secured by real property such as a mobile home, or a reverse mortgage, the lender gives all disclosures required by federal law instead of the Loan Estimate and Closing Disclosure the rule otherwise specifies. Other choices: those two forms are the ones displaced; disclosures are plainly required; and the rule substitutes rather than stacks them. Source: Ga. Comp. R. & Regs. 80-11-1-.01(3)
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