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Updated over 6 years ago,

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12
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1
Votes
Ryan P.
  • DMV
1
Votes |
12
Posts

Using HELOC as cash reserves

Ryan P.
  • DMV
Posted

Does anyone know if it is generally acceptable to a lending bank to use my (primary residence) HELOC as proof of cash reserves when applying for a rental property buy and hold conventional loan? Or do you need to show proof that you have X months amount of cash in an actual bank account?

This post addresses HELOCs & reserves but isn't exactly on point: https://www.biggerpockets.com/renewsblog/2011/04/0...

Thanks 

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