Get Insider Tips on Easiest HELOC Requirements Now

To qualify for a HELOC, lenders typically assess several factors:

1. **Equity in Your Home**: Generally, lenders require you to have at least 15-20% equity in your home¹. This ensures that there is enough collateral backing the credit line.

2. **Credit Score**: A good credit score is crucial. Most lenders prefer a score of 620 or higher, but some might offer more competitive rates for scores above 700².

3. **Debt-to-Income Ratio (DTI)**: Lenders usually look for a DTI of 43% or lower. This ratio helps them gauge your ability to manage additional debt³.

4. **Income Verification**: Proof of stable income assures lenders that you'll be able to meet your repayment obligations.