Updated about 7 years ago on . Most recent reply
Using HELOC as cash reserves
Does anyone know if it is generally acceptable to a lending bank to use my (primary residence) HELOC as proof of cash reserves when applying for a rental property buy and hold conventional loan? Or do you need to show proof that you have X months amount of cash in an actual bank account?
This post addresses HELOCs & reserves but isn't exactly on point: https://www.biggerpockets.com/renewsblog/2011/04/0...
Thanks