How soon can we take out a home equity loan?

My husband and I are in the process of buying a house.. we were told by our realtor and mortgage broker that the house appraised for 30k more then what we are paying for it. If this is true and we buy the house would we be able to take out an equity loan on the house as soon as we buy it since the house is worth... show more My husband and I are in the process of buying a house.. we were told by our realtor and mortgage broker that the house appraised for 30k more then what we are paying for it.
If this is true and we buy the house would we be able to take out an equity loan on the house as soon as we buy it since the house is worth more then we are paying?
Update: We're doing FHA so we only have to put 3.5% down. So.. I'm assuming that means that we will have to pay into the house for a while before we can
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