Depending on your credit worthiness (which is based upon a number of factors including your income, your previous borrowing history, your credit rating and other values) and the amount of your outstanding debt, home equity lenders may lend you up to 85% of the value of your home minus the amount you still owe on your main mortgage. You will need to ask your mortgage lender about the length of the home equity loan, whether there is a minimum withdrawal requirement when you start your loan, and whether there are minimum or maximum withdrawal requirements once your account is opened. Do enquire as to how you can gain access to your credit line to work out the likelihood of getting a loan approved.
Also, do find out if your home equity loan sets a fixed time when you can make withdrawals from your account. Once this period expires, you may be able to renew your credit line. If you cannot do this, you will not be permitted to borrow additional funds and you may need to take out loans elsewhere if you need money. In some plans, you may have to pay your full outstanding balance on your loan. In others, you will need to repay the loan balance over a fixed time.