Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago,

User Stats

9
Posts
1
Votes
Larry Miller
  • San Antonio, TX
1
Votes |
9
Posts

Buying a house using HELOC? Timing?

Larry Miller
  • San Antonio, TX
Posted

I am looking at using a Home Equity Line Of Credit (HELOC) to buy a house in San Antonio but I am new and don't know how the timing will work. I know you can get pre-approved for a typical mortgage and use that pre-approval with your offer, but is there any way of showing funds available using a HELOC without actually borrowing the money. I don't want to borrow the money and have to make payments if the offer I make falls through. On the other hand, the bank I talked to said it will take 30 to 45 days for the HELOC to be processed.

I guess my question is: How do you work the timing when using a HELOC to buy a cash house?

Loading replies...