HELOC for Down Payment?

[Ryan Churchill]

Hi All,

I'm working on getting some additional rentals and recently got a HELOC on my primary residence. I've got no debts and no mortgage on the primary home. I'd like to use the HELOC as a down payment for a conventional mortgage/rental purchase.

My question is would a lender prefer I withdraw HELOC funds into an account before hand or would they be open to knowing I can access the HELOC at closing? I'm trying to make it as simple, and inexpensive for me, as possible.

Thanks!

[Vaughn Smith]

@Ryan Churchill you should reach out to @Drew Walls he is a great resource, he can probably provide you with the answers you need.

Good luck