The answer is, "it depends". How's your credit? If you have great credit, doing this won't hurt. Just don't close the other account, that will lower your scores. Transfer the balance and pay it down as fast as possible.
If your credit isn't great, this may be a blind come-on and when you actually apply they will give you other terms.
Please, just don't be tempted with a large line of credit to take a trip, but something big or make a lot of small purchases you can't pay off.
Every dollar you tie up in debt will lower your buying capacity on your home.