Hi Cory,Yes, you can use your HELOC to buy a property cash or as part of down payment.

Hey @Aasin Pritchard - sign the assignable contract first lolWho's to say you discuss it with a buyer and they don't try to cut you out of the deal and go direct to the seller since you gave them all the info without a signed contract? 

If you ever decide to purchase a non-owner occupied single family property, some lenders allow you to put down as little as 15% for the down payment.

If I represent my friend, could I pledge my 3% commission into the home for credits, buy downs or as more money down for a down payment instead of taking a cash deposit?

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I know that there are low down payment loans for primary residence.

I ask because I don't see many listings online that don't include much detail...and wondering if I should.All 18+ applicants must complete the application and pay the application fee.Credit score of 700+, No bills in collection.Steady employment or other acceptable source of regular income for 3+ years.Gross monthly income at least 3.5 times the monthly rental rate.Monthly payment Debt-to-gross-income ratio no higher than 40%.

.- $968 difference paid out over 12 months would be $80.60 per month MORE.The mortgage company is claiming that I owe $3,000 MORE in escrow and is charging me an additional $250 per month.I checked with them and I've NEVER missed a payment and have been up to date this whole time.They say its not a mistake but couldn't explain why I owed $3000 more instead of $968 more for the year.Am I missing something? 

Them next thing is to make sure your debt to income ratio is below the max % 46.9% for the front debt to income ratio (mortgage payment divided by your gross monthly income) and 56.9% for the back end (mortgage payment plus all other monthly debts divided by your gross monthly income). 

@Amy Wei Ru Chang, LA investor and Realtor here...I think you should use $300K as a down payment and borrowing the rent of the purchase price.