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Updated about 7 years ago on . Most recent reply

User Stats

63
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15
Votes
Eric H.
  • Bend, OR
15
Votes |
63
Posts

Down payment with new HELOC

Eric H.
  • Bend, OR
Posted
I am in the process of getting pre approved for an investment property and noticed the paperwork said I need proof of seasoned funds (2 months) in an account for the down payment. I plan on using a HELOC that doesn't get funded until later this week. Does anyone know if that needs to be 2 months old? Do I need to pull the down payment and have it sit in my checking account for 2 months? I reached out to the lender for answers last night but am anxious to get an answer. Any input would be helpful. Thanks!

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