The LTV on my portfolio is about 13%. I have been able to do this with the BRRR strategy. I would like to leverage more with the banks while rates are very low. Can I secure a heloc loan, not use it, and then apply for a conventional mortgage to buy a new primary residence for myself? I have been living in apartments to shelter my debt to income while I grew my portfolio. I am now tired of the apartment life, and would like to buy a new house for myself. The funds from the heloc would be used for future investments. Would it be easier to do the heloc after the house is purchased? I just figured if I don't use the heloc it will not impact my debt to income, but I'm sure they still look at it as a risk factor. Can someone weigh in? Thanks

Hey Kelly! Would you be doing the HELOC on one of your rental properties I assume?

Yes. I would do it on one of my homes with no lien. I have done 2 cash out refi which are great but I also like the fact that I can sit on a heloc and never use it. Sitting on a mortgage is different in my eyes. All that front loaded interest just vanishing every month while your money sits in your account depreciating until you find a good cash deal to grab.