heloc question

does amyone know what happens if you take out a heloc but don’t use it…or don’t use it much. i understand that some banks charge a fee for not using but it there anything else they can do.reason i ask is i would like the option to use the seller financing technique with a heloc for down payment versus a hml. meaning i’ll have an hml preapprove me but if the seller will carry the mortgage then i’ll use my heloc.

You will have to see with what your HELOC note says is most cases I have seen that if you do not use it; NOTHING happens no charges nothing.

So if you use it you will only be charged the amount that you use.

So for seller Financing that would work it is alot less money that is for sure