Olive Branch, MS · Member since 2013 · 452 posts · 10 votes
Would a Lender use the $ that I have in my HELOC account ........... would they let this count towards being $ that I have in a " Savings Account " , as they want to see that you have 6 months of Rent saved up " Per " rental / your own personal Residence that you have Thank you for the input and help
Rental Property Investor · Augusta, GA · Member since 2017 · 825 posts · 278 votes
8y
I am not sure what you are asking. Probably your best bet is to talk to a lender and see what they consider proof of funds. I'm guessing that you are talking either about a down payment or savings to allow a refinance. See what your local bank is willing to do.
Investor · Odenton, MD · Member since 2017 · 204 posts · 144 votes
8y
In my experience the short answer is NO. What you could do and I have done this is transfer a little more than what they need in to my savings, then let it sit there for a couple months.
Olive Branch, MS · Member since 2013 · 452 posts · 10 votes
8y
Thank you all for your help
Alexander Felice ,
So you are saying that I should go ahead and withdraw 6 months worth of payments for both my Primary and this Investment property , and put it in a Savings account and let it seasons a few months ? Thank you for your help