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Updated about 10 years ago,
Investment Property Loan Approval
Happy 2015 BP, I plan to use funds from a Home Equity Line of Credit for an investment property.
I was wondering if I opened a Home Equity Line of Credit on my primary residence and it just sits there unused, would it hurt my chances of getting approved for an investment property loan from a local community bank? I assume it shouldnt factor into the loan decision or my debt to income ratio if I havent made any draws on the HELOC but figured I throw this out to the experts for advice!