Hello BP Mentees and Mentors. I have a question, which is Can I get HELOC while I put down my Paydown? Because that is already my equality
No, not typically. Banks want you to have some of your own money in the deal. You can force value with some improvements and then apply for a HELOC. FHA loans are low down, and you can get started there. The more your down payment, the lower your monthly payment which is a benefit to both you and the lender, as they want you (and themselves) to succeed.
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