Basic equity and renting out 1st home question

[Kevin Jorgensen]

Basic question. If I have 35% equity in current residence, can I get approved for loan on new home and still pull equity out for the down payment? Or will that reduce the equity in first home so much that I won’t be approved? I.e have 200k equity New loan DP needs 150k Leaving 50k equity in house valued at 450k. Or do I need to wait until current home has closer to 60% equity before renting out? Thanks Kevin