Can I Use a Home Equity Line of Credit to Purchase Commercial Property?
Full Question:
I have $45000 equity in my house. Can I use a heloc for a down payment on commercial real estate?
06/26/2011 |
Category: Debts and Cr... ยป Lending |
State: Arkansas |
#25100
Answer:
It is possible, as the credit you obtain generally will not be restricted as to its use.
For further information, please see:
http://www.ftc.gov/bcp/edu/pubs/consumer/homes/rea02.shtm
http://www.federalreserve.gov/pubs/equity/equity_english.htm
