show that income is coming in
lenders like steady employment
Your capacity to repay your home equity credit line or loan is contingent on your employment and other income sources.
Lenders like to see home equity applicants in steady jobs with verifiable income. Lenders will likely call your employer to verify your employment position and salary/wages.
Any discrepancy in your reported employment and income may raise additional questions that can disqualify you for a loan.
Self-employed individuals will require additional documents to ensure lenders that the applicant has steady income. These documents will include your personal tax filings and other information as required.