Equity lending is an alternative to traditional financing requirements if you are unable to prove your income or have credit issues and is available for your principal residence and rental/investment properties. You will be required to have 25% down to purchase or 25% equity in your home to be eligible. If you are unable to prove your income but have excellent credit history rates are competitive to traditional financing. If your credit is damaged higher rates apply however the goal with equity lending in the case of a damaged credit history is to help rehabilitate and improve your financial position with the hope of qualifying for tradition financing at renewal. A fee is typically charged for an equity mortgage.