Using HELOC for down payment

[Cody Wageman]

Hey everyone,

We are working towards purchasing our first rental. We currently have a HELOC that's we intend on using for the initial investment to get the ball rolling. My questions are, are there specific things we need to make sure and do when working with a lender it we go this route with the HELOC? How does using the HELOC work with relation to our DTI if we go with a traditional loan? Any advice on the use of this option would be appreciated so that we make sure and handle the situation correctly. Thank you all for your help.