First time home buyer and HELOC

[Account Closed]

Good morning everyone, I'm new to the forum and I have a few questions I'd like to ask.

I recently applied for a HELOC Line of credit in an attempt to tap some equity on my condo in Denver.I was denied due to the fact that I didn't reside in the residence (I moved to Las Vegas 6 months ago) That being said, I plan to try again with a different bank. Is there anything I can do to improve my chances of being approved? I read that banks are unlikely to give out HELOCs on

condos, can anyone confirm from their own experiences?

Second question: I payed 20 percent down on said property. Would I still be considered a first time home buyer if I decided to purchase a property here in Vegas?

Any clarification would be appreciated. Thank you for your time.

[Walter Purdy]

@Account Closed have you tried doing a cash out refinance instead? They're much less expensive for you & you can do them on investment properties (non-owner occupied). Also it does not matter if you are buying for first time, FHA loans that require 3.5% down are available to anyone who does not currently have an existing FHA loan. If you'd like to better understand the next steps you should take, direct message me