How soon after buying a house can you access some of the equity in your home?

Tips and Deals Forums Buying Your Home How soon after buying a house can you access some of the equity in your home?

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      Anonymous
      Inactive

      I’m asking this for my parents, and since our broker is on vaca, I turned to here.

      We closed the deal on our home feb 2007 paying a mortgage for a 700,000 house. Over time we did many renovations and had it appraised for 890,000 not too long ago. Can we take out a HELOC as soon as we’d like to or would we have to wait a certain amount of time? This is for a home in Toronto Canada, so im sure regulations would differ slightly.

      I can provide more info if need be. Thanks!

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