Can a parent use a HELOC to finance the mortgage for a child to purchase their home

ptaritchie
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October 10 2009 - US

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Schultz Christine, "christineschultz"
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Yes, if you are paying cash the closing agent will require you bring a cashiers check for the total amount due, they do not question where the funds come from. If you are using the HELOC to give your child a down payment, the lender your child is obtaining financing from will require a letter explaining that the funds are a gift with no repayment required

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October 10 2009

Wayne Brown, "SDMortgagefinder"
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Yes. I think I answered this on your other thread.

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October 10 2009

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Can a parent use a HELOC to finance the mortgage for a child to purchase their home

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