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Updated about 5 years ago on . Most recent reply

Phillip Davis's profile image
Phillip Davis's profile image
Phillip Davis
  • Rental Property Investor
  • from Edgerton, WI
  • Member since Jul 30, 2017
  • Posts 86
  • Votes 35
  • Experience 7 Yrs
  • Investments 7
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Phillip Davis's profile image
Phillip Davis's profile image
Phillip Davis
  • Rental Property Investor
  • from Edgerton, WI
  • Member since Jul 30, 2017
  • Posts 86
  • Votes 35
  • Experience 7 Yrs
  • Investments 7
Connect
Phillip Davis
  • Rental Property Investor
  • Edgerton, WI
35
Votes |
86
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Buying & Selling Real Estate

Heloc for down-payment

Phillip Davis
  • Rental Property Investor
  • Edgerton, WI
Posted

I'm looking to make my first deal and have decided on using my heloc for my down payment, is there anybody in Wisconsin or Madison area that has used this strategy? Is there any certain banks or credit unions that are better to use for this strategy? I was told some banks will not lend to you this way as you are taking a loan to pay for a loan. 

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Ham Merritt's profile image
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Ham Merritt
  • Co-Owner
  • from New Berlin, Wisconsin
  • Member since Apr 11, 2017
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Ham Merritt's profile image
Ham Merritt's profile image
Ham Merritt
  • Co-Owner
  • from New Berlin, Wisconsin
  • Member since Apr 11, 2017
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Ham Merritt
  • Co-Owner
  • New Berlin, WI
71
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224
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Ham Merritt
  • Co-Owner
  • New Berlin, WI
Replied

@Phillip Davis I am going through this right now myself. Try UW Credit Union or Summit Credit Union. Both of them offer HELOCS up 100% LTV. How do you plan on financing the purchase?

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