Are there any regulatory concerns with using a HELOC to purchase a home? Basically so there are extra funds available for improvements, etc.

1. It may not be permissable via your HELOC loan contract.
2. Collect GMI, if permitted

The Ability to Repay Reg Z amendments are still "proposed", but they prohibit using open ended credit to circumvent the rules. It may not be long before the CFPB issues a final rule, so review that first.