LOTS of people get down payment gifts from family, and LOTS of lenders & borrowers prefer that gift funds go directly to escrow to keep the paperwork a little lighter (one less round of "source this deposit" and bank statements and transaction histories).

seems to me that works.I have had the same set up with my bank for years.little bigger loan size than yours.but one loan is an unsecured loan to go shopping.. the second half of the facility is to secure it up once they have the apprasial.. money comes in on the secured line and pays off the unsecured LOC .. now this is a flipping line not a buy hold line.. but I could refi out and keep as rental if that is what i wanted to do..

We have thought about getting a line of credit through the bank, pulling in another partner to help out with cash, and also private money lenders. 

Like @Nathan G. said, is your bank going to discount your mortgage payment if you did the same? 

I have my primary residence mortgage and the rental property mortgage both through a commercial bank in Canada(RBC).

banking loan industryThose are some ideas to geet you thinking

I'm a first time homebuyer and have access to a VA loan, should I speak with my bank right away to see what funding I can afford?

Banks have a certain way of doing things and little flexibility sometimes.

So my question I have is would it be possible for me to get a LOC (line of credit) with my local bank and then use it for down payments on my properties I want to invest in? 

Will bank finance or use Fanniue Mea on loans this big?