Two birds with one stone

In today's lending world, Most banks have tightened up on Home Equity lending. The best advice is to check with your local Regional bank or Credit Union. When approved, draw down the line and deposit the funds into your bank account to let it season. Typically, a new mortgage underwriter will look harder for reasons to not approve a loan when the down payment is borrowed. Underwriters require the last two months of bank statements as a condition of approval. If the deposit is made prior to the begin date of the oldest statement, then the underwriter considers these funds to be 'seasoned'. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.