Is there a minimum equity needed before I can take it out?

Standard conventional plain vanilla loans, like a 30-year fixed only allow you to take cash out up to 80% of the appraised value. VA loans up to 100%. Typical home equity line of credit (HELOC) type 2nd mortgages usually allow up to 90% of the appraised value. I lend in SD, ND, MN, WI, and IA. Find me at JoeMetzler.com - NMLS 274132

FHA loans will allow you to cash out up to 85% of the appraised value after at least one year of ownership. Conventional loans (Fannie and Freddie loans) will allow you to cash out up to 80% after at least six months of ownership and VA will allow for up to 100% cash out after at least one year of ownership. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.