Home Equity Line of Credit

[William D.]

What's up BP! I am interested and looking for info about a home equity line of credit, to use for  a down payment on another home. I purchased a condo at 260k, rolled the closing costs in as well, so total is 275k. I currently owe 238k. I also did a full renovation, (top of the line everything, built-in fridge and dishwasher, marble backsplash and countertops blah blah blah). I did not get a formal appraisal but the comps are around 289k-310k (conservatively). Can I get use my home as collateral? Forgive my ignorance, I am new at this. How do I calculate how much equity I have, if any.