HELOC/LOC

[Account Closed]

Hopefully I am In the right place for this question.

I own my first home with no mortgage or anything. I am guessing that it was worth about 200k since the last few properties near by have been sold around there. I am wondering how hard, or if it is possible to get a HELOC or Line of Credit if I just purchased another home last month which was a conventional, residence loan.

My old home is currently pending tenant (July 1st) and will be section 8. I make about 30 k a year not including rent income.

Any info will be great.