Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago,
Using a HELOC for down payment ?
Hey guys does anybody have experience using a HELOC to put a down payment on a house for a traditional finance?. How does it work because I understand the lenders need to see two months of tracking of where the money came from what's the best way to utilize the strategy. I utilize my HELOC as my savings account and all my income goes into paying down my line of credit and then I utilize it again called accelerated baking or mortgage acceleration. I plan to utilize my line of credit for a down payment for my next house purchase any help is very appreciated thank you.
phoenix AZ