HELOC on current primary residence
I am closing on a new home in less than a month. I am financing the new home with a conventional loan with the understanding that it will be my primary residence. I plan on keeping my current home which I have lived in for four years. For a while it will be a second home but I eventually will rent it. My question: Can I be approved for a HELOC on my current primary residence? The credit will not be used to finance the new home. I just wanted to get approved and have the credit now while it is still my primary residence before it becomes a secondary or rental property. Thanks in advance for any advise.