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Arizona Real Estate Q&A Discussion Forum
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Updated over 3 years ago,

User Stats

15
Posts
7
Votes
Chance Love
  • Rental Property Investor
  • East Valley, AZ
7
Votes |
15
Posts

Can a HELOC be used on a future primary home as a down payment?

Chance Love
  • Rental Property Investor
  • East Valley, AZ
Posted

I've lived in my primary home for 10+ years that has a great amount of equity and I'm considering doing a HELOC and turning my current primary home into a rental which will produce great monthly cash flow based on the current market. My goal is to pull 20% for my next home from my current primary since I'd like to downsize and use that towards my future primary residence as a down payment. Is a HELOC typically accepted or not as a down payment for a primary home or is it case by case? Thanks in advance!

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