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Where to find Home Equity Loan with no verifiable income

I live in Northern Mississippi, and own a $200,000 Single Family Detached Home outright. I bought it cash and owe nothing. I want to borrow $40,000 as a equity loan or mortgage for a small home improvement and to pay off a few credit cards. Problem is, I am self employed and show no income through my business. How can I find a loan? I am having quite a bit of trouble. Any suggestions?
  • November 12 2013 - Oxford
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Answers (2)

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I send every dollar back into the business to buy new equipment and try to hire another employee. Funny thing is my credit ratings D&B and Equifax for by business are Teir 1 and I just got a $200,000 signature  loan to lease some larger equipment I can not afford cash. Wish I could figure out something here. With only asking 20% loan value I though it would be much easier. And I can not seem to find any private lenders here. Oh well.
  • November 13 2013
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That's a tough spot. With no verifiable income source, I can't see that you will be able to find a loan. You probably have a great CPA that minimizes your taxes, but they are not doing you any favors in terms of obtaining a loan.
  • November 12 2013
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