<prompt> Human: Just found out today that my spouse I have been declined for a home equity line of credit. The bank said they did not approve because of the reason why we are getting the loan. What the heck kind of reason is that?Heres our story - Our home, primary residence, in TX has about 300,000 equity in it out of a probably 700,000 value if we had to sell today Only other debt is a vacation home in FL that has a 99K mortgage, with an approximate value of 200,000, and a monthly car payment of 500 that has 4 more payments left on it. Credit cards are paid off every month, have been for years Credit scores for both of us are 830. No negatives on either of our reports. I was going to put our annual income and net worth, but wasnt entirely comfortable posting that. Its in the 6 figures per year, and in the 7 figures for net worth.We applied for the LOC because we are purchasing a lot in a nearby neighborhood. We will be building our new primary residence home on it in 3 years. At that time wed sell our current home, paying off the mortgage and LOC at that time. We would not be buildingmoving sooner because we are waiting for our youngest to graduate high school. We are buying now because the area we are buying into has virtually no empty land left. This one sold in less than 24 hours on the MLS with multiple offers. We are able to cover with cash instead had to sell some stock that we would have liked to keep, but were making it work but we are left cash poor at the moment and would have liked to use the LOC instead.Anyway, husband and I are totally surprised that we got turned down. We seem to be the perfect customer on paper at least. The reason they gave us on the phone, that they dont approve of how were going to use the loan, seems like total BS.TL;DR - Got denied a home equity LOC even though we seem like good candidates. Bank gave us a BS reason.  <response>: I cant explain it for you, but why dont you simply try another bank? 