DOES LINE OF CREDIT COUNT AS PROOF OF FUNDS

[Raphealvw]

Hello Everyone,
Please do you know if a line of credit can be used to show proof of funds? Please share your experience or if you know or heard anyone that has done this.

Thanks,
Raph

 

[Asivad Anac]

Line of Credit implies borrowed or borrow-able funds which cannot be used for POF. Funds for POF need to completely unencumbered.

 

[YamPower]

Using borrowed funds as proof of funds can be considered misrepresentation. The funds should be yours.