Taking Out a HELOC Now For Future Use

[Stanford R.]

I'm considering taking out a HELOC on my primary residence (up to the 90% LTV ratio or just under that) to use for a down payment on an investment property in the next 3-12 months. I have around 20% equity in my home and am looking to lock in the HELOC before the market reacts in a major way to the current COVID-19 situation. Any thoughts or suggestions would be greatly appreciated.