Income refers to a borrower’s money from their jobs or other sources, such as investments or rental income from rental properties. Lenders examine a borrower’s income when evaluating their eligibility for a loan because it indicates their ability to repay the loan. Borrowers with a stable and reliable income are more likely to be approved for a loan than those with an irregular or no income. When determining the loan amount and interest rate, lenders check the borrower’s income level.