How Soon Can You Pull Equity out of Your Home?

Here’s all you need to know to time it right.

Almost 30 percent of homeowners say they would consider borrowing against their residence’s value, according to a new survey from MeridianLink, a loan-origination software provider. But nearly a quarter of them (23 percent) also admit to an incomplete understanding of home equity loans and lines of credit. Lemonsoup14/Shutterstock

By David McMillin Bankrate.com

If you’re contemplating tapping your home equity, you’re not alone: Almost 30 percent of homeowners say they would consider borrowing against their residence’s value, according to a new survey from MeridianLink, a loan-origination software provider. But nearly a quarter of them (23 percent) also admit to an incomplete understanding of home equity loans and lines of credit.