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Updated almost 8 years ago,

Allyssa McCleery's profile image
Allyssa McCleery's profile image
Allyssa McCleery
  • Rental Property Investor
  • from West Palm Beach, FL
  • Member since Mar 19, 2017
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User Stats

262
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136
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Allyssa McCleery's profile image
Allyssa McCleery's profile image
Allyssa McCleery
  • Rental Property Investor
  • from West Palm Beach, FL
  • Member since Mar 19, 2017
Connect
Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
136
Votes |
262
Posts
Private Lending & Conventional Mortgage Advice

using a home equity loan/HELOC

Allyssa McCleery
  • Rental Property Investor
  • West Palm Beach, FL
Posted

I am just starting out and have been reading a bit about Home Equity Loans and HELOC. From what I am seeing you only need 15% equity in the home to take out one of these loans or line of credit. So does that mean if you put 20% down into a home you will be able to purchase another property shortly after by getting a line of credit/loan through that 20% equity? Or am I completely misunderstanding?

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