Question : Home equity line of credit, is there a timeline before you can apply?
I just had a house built this year, I have been living there since April 7th 2009. My home has some equity already because I built this on my own property, it is appraised at 500,000, I took out a mortgage for 245,000. My question is, can I apply for a home euity line of credit or do I have to live there for a couple of years first?
home equity line of credit

Best answer:

Answer by mykatesmom
I think you can apply for one anytime you want. Since you have substantial equity in the house, there will probably be no problem.