How does home equity loan qualification works if you’re self employed?

I am self employed and want to get qualified for home equity loan. What are the qualifications lenders look at. What do I need to show them and have?

Been trying to find out on the net, but can find any good resources. If you know any and dont mind sharing would be awesome.

Thanks!!!

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1 Comment at "How does home equity loan qualification works if you’re self employed?"

Steve D August 29th, 2010 (#)

You will most likely be required to show two years of IRS filings to prove income. Everything else is basically the same as applying for a first mortgage – house appraisal, savings/checking account statements, credit reports and scores, etc.