Cash advance

[Anonymous]

will using a secured credit card cash advance to pay for some of the earnest money be the same as using a regular credit card ?

[tooleman694]

I dont think that is gonna fly at all.

[Sunshine85]

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@tooleman694 wrote:

I dont think that is gonna fly at all.

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+1

Secured on unsecured makes no difference. Using credit cards for the earnest money and/or downpayment is generally a no-no. 

Do you have other liquid assets, 401k,savings account, CDs, etc. available that you can show to the UW?

[Anonymous]

Yes we have Liquid assests and 401K.

[MovingForward_2012]

The only way it might work is if you close the account so that you aren't borrowing against your security, but doing that could affect your AAOA and lower your credit score.

[DallasLoanGuy]

dont fret.

take $300 extra to closing

title co goves your $300 back.

this is not an issue one bit.

you arent losing anything