Updated about 9 years ago on . Most recent reply
using HELOC for down payment
I am in the process of getting a HELOC which I will then use as a down payment for my next investment property. My plan is to get 5+ units and get a commercial mortgage. Is there any "seasoning" requirements for down payment funding. Should I take out the money from the HELOC and put it in a bank account, wait 2 months and then start looking for a investment property? I know for conventional mortgages 60 days is standard but not sure for commercial loans.