Is it possible to do a heloc on my current home to cover the down payment of a future home? We’d rather rent our current home than sell it.

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Depending on how much equity you have in your current home.

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I have enough to cover it at 75% LTV

Yes, I just did this

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Same lender? I’m getting better heloc programs from a CU

Yes, but don’t expect to pay the same rates since your current residence will be refinanced at investment property rates. Try to do both transactions with the same lender.

The heloc is interest only for the first 10 years and then goes to normal for years 10-20. I expect to pay it off in ~2 years.

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