If you are planning to use money from a HELOC (Home Equity Line of Credit) as part of a downpayment on a new home, be sure to secure the HELOC prior to listing your current house for sale. If you wait until after listing, you will not be approved for the HELOC.
For extensive information on useing a HELOC for a down payment on a new purchase, this site is very informative. There are pros and cons…
https://www.discover.com/home-loans/articles/use-heloc-for-down-payment/#:~:text=A%20HELOC%20can%20provide%20you,payment%20on%20the%20new%20home.
