Heloc lowers Fico score, then refinance

[Ryan C.]

Looking for some insight... I have a rental that is paid off. Going to do an 80% heloc on it so I can purchase another property. My intent is to wait the 6 month seasoning on the new property and refinance into a conventional 30 year mortgage to pay off the heloc and any money I put into the property. So here is my question.... when I max the heloc to purchase and reno the new property, I’m assuming that will drastically lower my credit score, so how can I refinance into a conventional when my credit score is low?

[Russell Brazil]

I dont think you will even find a lender to give you a HELOC on a rental property.