I've read that you have to have atleast 20% of your home's value paid to qualify for a HELOC. True?We are looking to purchase a house for about 100k or less and would have a 20% down payment for up to 100k. We know we want to do immediate renovations on a home before we move in, but would have to qualify for a loan to do so. My research has told me that a HELOC would work best for this, but I'm curious on how to be sure if we would qualify. We would like to have around 100k to do renovations with. Would the home's purchase price affect the amount of credit available to us?May 05 2012 - Jensen Beach00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.