by Jim Olenbush After you purchase a home, you begin to build equity almost immediately. When the amount of money you own on the home is not as much as the appraise value of the home, the difference in value is termed as equity. Once you have built up equity on your home, you may be able to borrow money against the value of your home. You might not know, but there are various types of home equity loans that you can apply for. Generally, if the owner of a home wanted any such types of loa