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Updated about 1 year ago on . Most recent reply

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11
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Jon B.
4
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11
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Buying All Cash With a HELOC

Jon B.
Posted

I'm planning to buy an investment property all cash with a HELOC on my primary to BRRRR it. Since I am not using a lender during the escrow process, what are the checklist of things to consider once a property is under contract? In other words, what specific things am I responsible for during escrow for due diligence and processing of paperwork that a lender would typically do? Further, how do I demonstrate proof of funds on a HELOC (ie, the equivalent of a pre-approval letter for a loan)?

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