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

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October 10 2009 - US
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Profile picture for christineschultz

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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Profile picture for SDMortgagefinder
Yes.  I think I answered this on your other thread.
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