A home equity loans is a loan where you borrow money against the equity you've built up in your home.
You'll need at least 15% to 20% of equity built up in your home before you can qualify for a home equity loan.
Your credit score will need to be 620 or higher and you'll need a debt to income ratio of 43% but it could be as high as 50% depending on the lender.
Another thing you'll need to show is that you have a strong great history of paying all your bills on time.
If you meet all the requirements to get approved for a home equity loan then you should be notified within 30 to 45 days of approval of the home equity loan.