HELOC - harmful to debt to income ratio?
BP-
I️ am opening another HELOC on a property this week and was wondering if the loan brokers out there can help me understand exactly how this is effectively counted “against” me in acquiring a new loan for the next property.
- Does the entire payment count against my Debt to income ratio? Even if I️ am not using all or even part of the line?
- How can I️ maintain the most favorable position for a property loan in the future but continue to utilize equity ?
Thanks all!