HELOC Application Bank Questions

[Robert M.]

I am applying for a HELOC on a property I own free and and clear with a National Bank so I can purchase another rental. The application has been conditionally approved and the bank is asking for an explanation of the funds are intended to be used. I dont want to say anything that may have the application denied.

I own 3 rentals. I have one with a conventional mortgage, one with a HELOC, and One free and clear (This is the house with application). Plus my occupied residence (2 mortgages)

Any advise as to what to tell the bank on how I intend to use the property?