Is It Possible to Borrow an Unsecured Loan based on Equity in a Co-owned Home

Your question doesn't make that much sense. Why would a rational lender use your equity in a property as the basis for making a loan that is not secured by that property?

It is possible to get an unsecured loan and lenders will often consider your assets, debts, income and net worth when evaluating the risk of an unsecured loan and your ability to repay it but, as the loan is not collateralized, assets such as home equity would not be the basis for making such a loan. Furthermore, since real estate is generally not very liquid and there are bankruptcy exemptions for a personal residence, a lender making an unsecured loan would usually exclude your home from the assets available to repay the loan.

An unsecured loan by definition requires no collateral. Are you meaning disclosing shared income from a co-owned property as means to make your payments?

Yea, I had the same question about unsecured loans. Sounded like a contradiction. Of coarse the creditor is going to learn how the loan will be repaid.

Not collateral, but maybe useful as a part of a balance sheet. Maybe?

Usually an income tax return is sufficient.

Hadn't thought of that. It's been a while since I was out trying to borrow.

Yea, me too! We've been in a position finanaically that we don't need to borrow money from the bank. It's really surprising how many zero intro loan offers we get. Why didn't we get those when we could have used it? LOL
I guess our excellent credit rating helps. Three FICO score average is 780.

I'm on the mailing list for a local loan shark, I mean loan company. Up to $2000.00 at only 28% APR. Well. . . .

That's what is so upsetting about the interest charged consumers and the interest earned by consumers. There's no rhyme nor reason for the rate of interest charged on personal loans when banks can pay less than 1% to their savers accounts.

Way less at the bank with which I have my checking account. They just broke the .1% barrier. Good lobby hours, though.

LOL Unless you have several billion dollars at that bank, you're not earning anything close to paying for one hamburger at a decent restaurant.

After you pay taxes on the interest earnings, it's reduced by whatever your federal and state tax rates are.

It's still <.1%.