Updated about 5 years ago on . Most recent reply
Will a $0 Balance HELOC be considered when applying for Mortgage?
I have a second home that is paid-in-full. I have a HELOC for $250,000, with a $0 balance. I am considering applying for a loan for a new purchase (30Year, Primary residence) in the amount of $450-650k. Will the HELOC hurt my DTI in any way, assuming I have a $0 balance before they pull my credit? Do they ever require one to close the line, before the new mortgage approval? Searched, but never found the exact answer for this scenario? Thx! Ryan