Updated over 1 year ago on . Most recent reply
Down Payment Loan
I have been a real estate appraiser in the DMV area (District of Columbia, Maryland and Virginia) for the past 3 years. I saved up enough money to buy a rental property 3 years ago. But just started a house flipping company. I was going to use a HELOC as start up capital for my company to buy a home in the area that I could make 50k on assuming i could buy it at the price I want. But the bank told me that I don't have enough equity in my home yet to get a HELOC. Does anyone have any recommendations or could refer me to someone that provides loans I could use as a down payment?
Thank you!
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Columbia, Maryland