Q: Can the HELOC loan on a first house affect the approval for HELOC on the second house?
A: If you are applying for a HELOC on a second home, there are many factors involved in determining whether a homeowner is pre-qualified. Although the current HELOC on your current home should not directly affect the HELOC on the second home, in today’s lending environment, it may be considered in your overall application. A mortgage specialist can help you navigate this process.
Please let us know if you would like to discuss current mortgage options and complete a complimentary mortgage pre-qualification.