Hello

[Justin Yocom]

Okay, so I bought a house back in November. I purchased it for 22k. I took out a loan for 17k due to 20% down payment. The home appraises 38k. I have paid it down to about 15,000 Currently. How long would I have to pay on this home before I could use it as collateral for a down payment on another home that would require around 6-8k down payment?  Would a bank let me do this? Or would I need to refinance the home and use that money for the down payment? Sorry if this question is a tad bit confusing im just starting out,