Using Line of Credit for Down Payment

[Josh Freeman]

We are looking to use our line of credit for our down payment (while obtaining financing) and keep our cash in the bank.  Do we have to transfer our money from the line of credit into our bank account to "season" as I have heard? Or can we transfer the money as needed? I have heard conflicting responses. I think of it as if I got a gift of money for a down payment from a relative. 

What's the difference between private lending and what we want to do? I have heard many podcasts where investors get money from others and it doesn't seem to be a problem.