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HomeForumsPrivate Lending & Conventional Mortgage AdviceCan a lender determine what HELOC funds can be used for?
Colton Norman's profile image
Colton Norman's profile image
Colton Norman
  • Investor
  • from Atlanta, GA
  • Member since Aug 5, 2013
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Colton Norman's profile image
Colton Norman's profile image
Colton Norman
  • Investor
  • from Atlanta, GA
  • Member since Aug 5, 2013
Connect
Colton Norman
  • Investor
  • Atlanta, GA
2
Votes |
12
Posts
Private Lending & Conventional Mortgage Advice

Can a lender determine what HELOC funds can be used for?

Colton Norman
  • Investor
  • Atlanta, GA
Posted Sep 2 2021, 09:30

As I was asking around earlier this year to banks and CU's about opening a HELOC - I was told by a credit union that they do not allow HELOC funds to be used for investment properties.

Just curious if they can do that?  I thought it was basically our money once its drawn out of the account.

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