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Updated about 1 year ago,
Will using my HELOC hurt me during the process of getting a loan
Hi,
I'm in the middle of getting a DSCR loan. I'm pulling cash out of a couple rental properties. My question is if the lender has already pulled my personal credit/ran my credit, will me pulling from my HELOC on my primary home hurt me in the DSCR process? I have another deal that I may need to pay cash for to lock up but don't want to complicate what's already in the works. I know pulling from the HELOC affects your credit once it hits. After seasoning I would cash out to replenish the HELOC.
Any help on this is appreciated. Just don't want it to throw up any red flags, hurt, or slow the DSCR loan process.