HELOC on Primary Residence

[Shawn Dandridge]

My wife and I are waiting for our new construction condo to be finished. We bought when there was nothing in the neighborhood. So our base price was 210k and we put about 30k worth of options in it. Condo prices now are in the mid 260's without any options. Were hoping for an appraisal in the 270-280k range. If this happens we will have instant equity. What I wanted to know is if we could instantly tap that equity or would we have a seasoning period of a year before we could?