All Forum Posts by: Ed Kelly

@Eddie Brady Thanks for the input. Sounds like getting pre-approved for the mortgage would be the safest route. But, to make sure I understand, would a HELOC with a zero balance on my primary residence impact anything when pursuing the pre-approved mortgage on a vacation rental property?

I plan on investing in a vacation rental in the smokies. I'd like to get a HELOC on my primary residence to help with the purchase and/or future unexpected expenses. One of my questions is should I be looking to get pre-approved for a mortgage, or even close on the mortgage, before pursuing the HELOC? If I get the HELOC first, how does that impact getting pre-approved for a mortgage?

Thanks!