HELOCs, how soon can you get one?

[Andres Perez]

I am looking for a method to get the equity out of a cash-purchased home ASAP. A regular bank cash-out refi requires at a minimum six months of ownership.

I was thinking of using a HELOC to get the equity out. A quick google search shows that some institutions require 30 to 45 days of ownership, others more.

I am assuming the ownership time requirement is institution-dependent. Does anyone know of lending institutions that do not require a specific time of ownership to start the HELOC process?

Are there any other financing options that would be cheaper and faster?

I thought that if an excellent deal came up, a hard money lender could be used until the HELOC cleared. (Fastest but expensive)