ca i take out a heloc with 20% equity?

More than likely no.. Most lenders have Loan to Value and Combined Loan to Value requirements.. CLTV is the percentage owned against the value of your property including ALL liens.. Example: if your home is worth $150k, and you owe $100K on the first and $20K on the 2nd, then your CLTV would be 80% Most HELOC lenders dont want to be more than 80% CLTV... so if you only have 20% equity, it's unlikely you will find a lender willing to lend against your property.. No impossible, but unlikely.. you can try by contacting local credit unions or community banks.. Since there are no "Conforming" guidelines for HELOC's, so each lender can have their own set of rules.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

I think you should be able to find some local banks or credit unions who can go up to 89.99% or 90% loan to value. We have a dozen in Colorado that do, so I'm sure you will be able to find some in TN. Best wishes, Sean