The Three Basic Eligibility Factors:
Your home. To qualify for a Home equity Investment, your home needs to be in an eligible area, and your property value needs to be above $200,000.
Your equity. You need to retain at least 20-25% of the equity in your home after the lender’s investment. In certain situations, the lender may require more equity be retained by the homeowner.
Your financial situation. While Home Equity Contract investors are much more flexible about your credit than conventional home equity options, they may still require a minimum credit score to qualify. Your debt levels can also affect your offer. The minimum credit score currently is 500.