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Updated almost 3 years ago,

User Stats

14
Posts
7
Votes
Kam Nak
7
Votes |
14
Posts

Using HELOC without affecting Credit score

Kam Nak
Posted

I am applying for a HELOC and wanted to find out what is the effecting way to use the HELOC without affecting the credit score. My plan is to buyout investment properties with the cash from HELOC. The concern is, once I draw money from HELOC my credit score would be affected immediately and later when I approach a bank for a loan to pay off my HELOC I might get rejected because of low score.

Wanted to find out from experts what is the effective strategy to use HELOC without affecting your credit score when to go back to bank for a loan.