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Updated 9 months ago,
How to use HELOC to fund down payment?
Hi,
I am going to be using a HELOC to fund my next property. The HELOC came with two starter checks in the mail I am able to use. How would I actually go about accessing the HELOC funds for the down payment? Would I need to write a check to my personal bank account and then get a cashier's check once the funds were transferred? Or can I transfer the money directly from the line of credit to the lender for the down payment?
Trying to think through the process of actually using the HELOC funds. I appreciate any feedback, thanks!
Sean