HELOC and home equity loan requirements in 2024
Key takeaways
To qualify for a home equity loan or line of credit, you’ll typically need at least 20 percent equity in your home. Some lenders allow for 15 percent.
You’ll also need a solid credit score and acceptable debt-to-income (DTI) ratio.
Lastly, lenders will want to see steady and adequate income, even if you have a lot of equity, and for you to be in good standing on your mortgage payments.
One of the biggest benefits of homeownership is the ability to build equity. Читать дальше...