You will not be able to access a home equity loan If you do not have a consistent source of income. Lenders might feel that a borrower is too risky if they are unable to prove the existence of this source of income. You could even have trouble accessing a home equity loan if your income is variable and sporadic. This means that people who work as freelancers, on commission, own rental property or own their own business, it can be difficult to access this type of loan. You need to provide sufficient proof of consistent income, usually at least for a year and a half. If you cannot access consistent income, you should consider other types of loans with less risk.
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