All Forum Posts by: Nancy Bachety

@Errol Schumann From my experiences with mortgages, during the mortgage application process, we had to provide bank statements showing the money in the bank or account where we had the funds for the 20% cash down. If it was a gift, it had to be in our accounts. And it had to be there for a while prior, not just a few weeks. Mortgages and banks vary and make the process tedious. If you can avoid using a HELOC for your down payment, try that first.

@Account Closed  I'm looking for a HELOC to pay off my primary and to use the equity on other investments. Did you compare banks first and do you recommend the bank you used for a HELOC?