Using a HELOC for a Down Payment: Pros, Cons, and Alternatives

A HELOC allows you to fully control how you get cash and is a temporary line of credit against the equity in your home. It is a fine option, although it may not be the best for every homeowner wishing to withdraw on their equity line. In case you’re wondering, “Can I use HELOC for down payment?” then yes, While HELOCs can be used for down payments, such an option may not always be considered ideal for the homeowner. Get A Free Mortgage Quote Getting to better understand HELOCs by weighing