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Updated over 2 years ago,

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1
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0
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Don Weymer
  • Accountant
  • Tampa, FL
0
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1
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Personal HELOC on primary for down payment on commercial

Don Weymer
  • Accountant
  • Tampa, FL
Posted

So the short story is this, I am a CPA and am self employed, and have a full time job, I also have a food business with my wife that requires a kitchen, which we are currently renting. (I have never borrowed on or owned commercial property). Can I use funds from my HELOC on my primary as the down payment on my commercial loan for a building that has a kitchen? The businesses cash flow more than enough to cover the loan payments so I don't expect an issue there.

For bonus points, anyone have a referral for a lender in FL they have actually dealt with?

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