how many times can I use the equity

As the property increases in value or the balance of the loan secured aganst it falls you can re-use the equity so infinite.

Cheers

Yours in Finance

Just to give you some more info Wade… What Richard said is entirely correct, but to put it into an example to simplify matters for you:

Let's say hypothetically you own a house worth $400,000 and currently have a mortgage owing on it of $200,000.

This means at this point in time you have equity of $200k in this house.

Let's say you decide to access that equity, and withdraw $100,000 as a line of credit to purchase another property.

Now you owe $300k on a $400k property.

Fast-forward 3 years down the track, and let's say for argument's sake your house is now worth $500,000, and because you've made a few additional repayments your mortgage is $280,000. Now you have a further $220,000 equity in this house you may decide to access.

The banks will have a limit as to how much equity you can withdraw, perhaps up to 80% of the value of the house, or maybe more – depends on many factors. However with time, your property value should continue to rise and as it does you can continue to release the equity which has been growing.

Hope that makes it crystal clear for you

Cheers,
Emma