Will using HELOC lower my credit score?

[Sean Salandy]

I am planning to use my HELOC to purchase a property. The plan is to then refinance the property once the seasoning period is over and then pay off the balance of the HELOC and do the process over again. My question is, if I use the HELOC to purchase the property and my balance is 75-100% of the credit line, will that lower my credit score to the point that I may not be able to refinance the newly purchased home?