Wait tme for a home equity loan?

If you were happy with the appraised value it could be possible, otherwise wait at least 6 months up to one year. It also depends on the type of loan used to purchase the home.

Your standard mortgage loans have a waiting period to use a value higher than the purchase price, which is generally 6 - 12 months. A stand alone 2nd mortgage home equity loan you can do right now.

As Joe said, If you are happy with the Appraised value that you got when you bought the home, Then you could. Lenders will continue to use the lower of the Appraised value or the purchase price for at least six months (and some use a year) from the date of purchase, regardless of the actual value today. FHA loans and VA loans have some built in stops that prevent you from refinancing too quickly. Check with a local Licensed Loan Originator to see what your options are. ~ 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.