almost most will here in CA. BofA Bank of the west wells union bank all will grant LOCs for 10-100K, if you have say 670+ and 3-years in business.
As mentioned, a letter of explanation may be necessary for an underwriter but... Your scenario is basically no different than someone getting a smoking deal on a tax foreclosure, etc and then selling on an ILC. Totally above board and justifiable.
I use my real estate show and sell agreement.
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almost most will here in CA.
BofA
Bank of the west
wells
union bank
all will grant LOCs for 10-100K, if you have say 670+ and 3-years in business.
As mentioned, a letter of explanation may be necessary for an underwriter but...
Your scenario is basically no different than someone getting a smoking deal on a tax foreclosure, etc and then selling on an ILC. Totally above board and justifiable.
I use my real estate show and sell agreement.