The equity disclosure is just information about the loan you are applying for, it's not an approval. The process isn't the same for every bank, but it's similar.
1. You apply
2. You provide documentation
3. They run some sort of valuation on your home and if the amount of loan you requested fits within the figure they get, that is pretty much it
4. If it's not, then they will either do an appraisal and/or counter your limit to the appropriate level based on the valuation figure
5 . You accept the terms, they draw up the documents for the loan closing
6. Notary comes to your home, you sign documents, the fees for the HELOC are the initial amount you draw on the HELOC, then the loan records 4 business days later
7. You will have some online access to your account, plus a checkbook mailed to you
8. Payments are usually due every 30 days from when it recorded/opened
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