First you must complete an application to determine if you qualify for the home equity loan. Once you have applied, the company will evaluate several criteria, such as:

- Credit history
- Employment and income  
- Line requested or amount of the loan

A review of the assessed value of the property and the amount of any existing mortgage debt on that property  

Can self-employed people qualify for a home equity loan?
Yes. This group of applicants can qualify provided they meet the approval criteria. Depending on the request, income documentation may be required.

How much to borrow?
The relationship between your loan amount and your home's value is called the "loan-to-value" ratio, or LTV. As LTVs increase, the cost of the loan in question usually increases as well.