Updated over 4 years ago on . Most recent reply
Help! Newbie HELOC question
Help guys! I'm a newbie investor. I have a line of credit (HELOC). I am also in the process of getting ore approved. I will be buying my first out of state buy and hold property in a few months. My heloc is 100K dollars. My question is. If I buy a house that's worth more then my heloc, or if the purchase price plus repairs become more then my Heloc amount, do I have to purchase the loan with my conventional loan, and only use my heloc for the down payment and repairs?
Thank you!