You could use some of your  HELOC funds as a down payment and than borrow from a fix and flip lender.

Trying to solve this problem leads me to learning about private money borrowing, which got me interested in private money lending.

The lender's rationale for canceling was due to Fannie/Freddie guidance on loans where self employed borrowers apply for any Covid relief assistance for their businesses.

@Gilda VanderHeyden I've got loans w/ 12-13 banks in Columbia, but I think most (if not all) are sensitive to where the borrower lives.

@Crystal Smith Thanks for your post, so what you're saying is that the rule should only be used on how much money to borrow but the total price it isn't important to be just 70%?

One of the largest types of mortgage fraud is occupancy fraudBest of luckStephanieI have borrowed from just about everyone of those on the list and never was asked for utl bill. these are not owner occ loan products ..

If our borrower can purchase and rehab a house within that valuation, they come to the closing with very little cash.

Creative things sellers can do sell their house-Seller contributions-seller funded permanent buy down-seller funded temporary buydown-owner financing-contract for deed-seller second-lease option and lease purchase-wraparound and assumable mortgageTwo: creative things buyers can do to purchase a home-gift funding-selling and refinancing existing assets-nonoccupant co-borrowers-using a 401(k)-temporary IRA transfer-pledged asset mortgage-equity transfer and bridge loan-employer assisted mortgageThree: creative things lenders can do to finance a transaction:-lender funded buydown-Fannie Mae's my community mortgage-running scenarios with automated underwriting systems-adjusting amortization period to lower payment-adjusting interest rates to cover closing costs-state, province, and local grant or bond programs-mortgage credit certificate-private lendingAll the three players above, the seller, buyer, and lender, can bring creative solutions to the table to get a house sold." end quoteMost brokers don't know these either, or know them and don't inform - teach their agents.This is through my direct experience.

Lender will want typically see your down payment as "seasoned" and borrowed last minute. 

There are many reasons behind this, but are all to protect the Borrower from coming out upside down on the deal.