|
A HELOC is a loan against your home. When the loan/line is approved, etc. then the entire amount approved is essentially considered borrowed for recording purposes - with county, etc. As far as your credit score goes, I don't believe it should make a difference against if you have $1 owed or $100,000 on the line. If you are applying for other credit, they will ask you your debt amount at that time, and that will be relevent at that point. But just by borrowing more/less against the line it should not affect your credit score. And besides, unless you owe other debt that can change rates based on your credit score, what difference does it make on a temporary fluctuation of your credit score?
__________________
Back into hibernation.
|