Pulling out equity on a newly built primary home

[Angela Liu]

Can you pull out equity on a new-build home after 6mo. to a year from purchase date if the only equity in the new house is coming from the down payment (which is well over 20% of the house value)?

[Bob Okenwa]

You can pull equity out at any point if the equity is there. I built my home last year and looked into a HELOC a few months ago and the lenders never mentioned the newness of the home. Their only concerns were the value of the property and my credit situation.