Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can home equity lines of credit be used for the borrower down payment?

April 26, 2017borrower credit down payment home equity Used

0

Posted

Can home equity lines of credit be used for the borrower down payment?

1 Answer

0

Posted

If equity is borrowed and secured by another asset, CDC must demonstrate repayment of the loan for the equity contribution from sources other than the cash flow of the business (salary of owner does not qualify).