Is it possible to use "HELOC" Home equity line of credit to purchase another home for a second property? Is that frowned upon by Finance companies (lenders) ?????? Verne
Yes. No. If you are going to use the HELOC as your down payment, just let you mortgage broker/lender know up front so they can take it into consideration w/ your dti so you don't run into any bumps in the road during closing.
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Yes. No. If you are going to use the HELOC as your down payment, just let you mortgage broker/lender know up front so they can take it into consideration w/ your dti so you don't run into any bumps in the road during closing.