Downpayment Reserves HELOC

[KaTrina Jones]

So to delay the process of saving for an eternity for the down payment on my first property I decided to apply for a HELOC. I was approved for more than enough for a down payment and I have just enough for closing cost in saving. After calling my lender he explained that I need at least 6 months in reserves that I need to show via savings or liquid funds such as retirement or other investment funds. This I don't have. I will have money left on my HELOC that I can pull from if it really comes down to it but that will not help me to qualify for the loan.... ANY advice on what to do? Maybe a way to get around it? Should I draw all the money from the home equity and sit on it for more than 2 months? Does that make the money "seasoned"? Keeping in mind I would have to pay the interest and payments on those funds. Any advise is welcomed.