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Equity Questions - I am new

How much equity do I need in my home to pull cash out? is there a minimum? Does the equity have to include enough for interest payments? Thank you. by muzzy563 from Eden, Vermont. Oct 16th 2018 Reply


Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,876 contributions

Depends on what you are doing. Most stand along 2nd mortgage HELOC's (Home equity line of credit) will go up to 89.9% of today's value. FHA loans allow up to 85%, VA loans allow up to 100%

Oct 17th 2018
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Dave Skow (daveskow)
#17 ranked lender in Washington - 185 contributions

need to have more than 10% equity to have a chance to use a HELOC to access cash

Oct 17th 2018
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