I am self employed and want to get qualified for home equity loan. What are the qualifications lenders look at. What do I need to show them and have?

Been trying to find out on the net, but can find any good resources. If you know any and dont mind sharing would be awesome.

Thanks!!!

Hey everyone! I’m wondering if you can give me some input on the topic of Princeton. I have thoroughly researched it and determined it to be an excellent university (duh!) that I would be very interested in attending.

The problem is that, even with my unweighted 4.0, leadership roles in numerous clubs, 3 years as a varsity soccer starter, class rank 1 of 366, and participation in the hardest available classes at my high school (including at least 10 AP’s), there is only a dismal chance that I will be admitted. Therefore, can anyone offer either a) tips to increase my chances of admission to Princeton (I have about 1 1/2 years to work with, since I am a sophomore), or b) a list of similar school to Princeton, especially in the Midwest (not necessarily in terms of flashiness, but rather regarding a strong intellectual community with awesome professors, financial aid, and overall atmosphere)?

Thanks a billion! ~
Just for those of you who are curious, I have not yet taken the SAT or ACT, but am generally good at taking standardized tests and plan to prepare well when I do take them, so I hope for high scores.

I am also taking the SAT II Chemistry exam at the end of this year to start whittling away at that requirement.

We are planning to rent our existing home and pull $200k equity from that home to buy a new primary residence. I am not clear about the $100k deductible limit on the home-equity loans. Can I deduct it on Sch A or against the rental income and is the deductible equity loan capped at $100k. We file married jointly and our AGI is $160k.