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Updated over 3 years ago, 07/13/2021

Kenneth Burdick's profile image
Kenneth Burdick's profile image
Kenneth Burdick
  • New to Real Estate
  • from Rancho Cucamonga, CA
  • Member since Oct 5, 2020
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User Stats

58
Posts
23
Votes
Kenneth Burdick's profile image
Kenneth Burdick's profile image
Kenneth Burdick
  • New to Real Estate
  • from Rancho Cucamonga, CA
  • Member since Oct 5, 2020
Connect
Kenneth Burdick
  • New to Real Estate
  • Rancho Cucamonga, CA
23
Votes |
58
Posts
Buying & Selling Real Estate

Using HELOC for down payment

Kenneth Burdick
  • New to Real Estate
  • Rancho Cucamonga, CA
Posted

Hi BP community,

Our current primary residence has a first-position HELOC. We were planning to use funds from this account to purchase another home, but the lender is having an issue with us "using borrowed money for the down payment." This seems like an overly simplistic way of thinking about this to me. Does anyone know of other good lenders in California that are OK with using a HELOC for down payment?

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