HE Loan to buy new primary residence

[Sam Brasseale]

I’m looking at buying a new house. I currently own a 3/2 with approx 185k in equity and 115k left on the loan. My plan is to take out a home equity loan for the down payment of 20% on a 520k house.

Current mortgage is 1100/mo and HE Loan payment would be ~900/mo

My plan is to rent our current house out as a LTR.

My question is, should I consider the HE loan amount as a loan service in the cash flow equation on the rental, or consider it just as an expense on my new home?