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Updated over 8 years ago on . Most recent reply

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Dan Nitwah
  • Investor
  • Barnegat, NJ
0
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7
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HML with LOC for downpayment

Dan Nitwah
  • Investor
  • Barnegat, NJ
Posted
Do you know if any HMLs will allow you to cover the 10-20% downpayment with a line of credit? I have about 50-60k in stocks that I would like to not touch if possible.

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Bob Green
  • Lender
  • Mokena, IL
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1,251
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Bob Green
  • Lender
  • Mokena, IL
Replied

Hello Dan,

I agree with Jeff. Do you have a 401K? Maybe you can borrow against for down payment and pay back after closing with unsecured line or when property sells?

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