Experts Questions and Answers

Cory Kline, AMP
Mortgage Agent
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Can I use my secured line of credit towards my downpayment if my current house does not sell on time to close with the new house?
posted by Pam Locking  :  Views (1525)

Yes it is possible to use your line of credit for down payment.  However depending on the amount of down payment and your income, we will need to review your mortgage approval with you owning both homes.

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