Proof of funds from a HELOC

Proof of funds from a HELOC

Real Estate Investor · Redmond, WA · Member since 2017 · 18 posts · 7 votes

We recently pulled a HELOC on our primary residence to use towards either a down payment and/or outright purchasing properties. As we are exploring properties, we are asked for proof of funds. When I asked our banker (who did the HELOC) for proof of funds on the HELOC, he said all he could do is "send an email to them saying you pulled a HELOC." Ha! We also sent one agent a copy of our "congratulations on your $xxx HELOC" letter. That didn't cut it either.

So...back to square one on the POF. Any ideas of how to show POF from a HELOC?

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  • Investor · Minneapolis, MN · Member since 2017 · 86 posts · 34 votes
    9y

    My lender just has me send the latest statement from my HELOC to show POF. Once they even let me send a screen shot from my bank's online app to show a transaction I'd just made because there wasn't time to wait for the next statement to be cut.

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