Is this a guidline of all lenders...

[Ryan Taylor]

Straight to the point...HELOC on my primary...want to use some of it to purchase a new primary...I have not drawn any of the funds and deposited in my bank account...my question is...can I not use these "untapped" funds available to me through my HELOC because they are not seasoned in my bank account...

[Jay Hurst]

Quote from @Ryan Taylor:

Straight to the point...HELOC on my primary...want to use some of it to purchase a new primary...I have not drawn any of the funds and deposited in my bank account...my question is...can I not use these "untapped" funds available to me through my HELOC because they are not seasoned in my bank account...

 @Ryan Taylor You can use the HELOC funds for a down payment as long as your debt to income ratio can absorb the additional debt payment. and the seasoning of the funds is not an issue because you will have a paper trail of where the HELOC funds came from. So, no issue. The issue with unseasoned funds is when cash from under your mattress suddenly appears in your bank account with way to source it. if you can source the funds AND they are from acceptable sources like a secured loan (IE a HELOC) then it is fine. cash, unsecured loan like a credit card loan, funds from relatives when gift funds are not allowed on the loan program are all issues.