Home Refinance & Line if Credit . Which one first.

[Manraj Singh]

I am new to Real Estate financing and I wanted to check with The group before taking a step.

I am planning to apply for a refinance for my home loan (rates are lower than last year).

I would also like to have a line of credit from my home for any future REI projects.

My doubts are :

A. Should apply for a Refinance first, Be done with it and then apply for a HELOC? Or should I apply for both together? I am not looking for a CashOut Refi since I don't have the need for cash now (or any REI projects at the moment) and don't want my mortgage payment to increase.

B. Should I use the same Credit Union/Bank for both? Will it be seen favorably/unfavorably by the underwriter that I am applying for both (taking on large credit aswell as a loan) ?

Thanks,

Manraj