You should always be in a state of readiness when you're house-hunting. And this means ensuring you have a letter from a lender signifying that you're ready to buy a home.
Determining which type of equity loan to take — second mortgage, HELOC, or cash-out refi — comes down to a number of factors, including why you need it.
Your home is probably your biggest investment. To manage it, create a financial plan that takes into account repairs, upgrades, mortgages, insurance, and taxes.