I'm gearing up for purchasing of my first rental property. I plan to use a HELOC on my primary home to pay for the down payment, closing costs, etc. on the property. I'm in discussions with several lenders and I have a few sites that offer decent HELOC options. Clearly, I will need to have HELOC funds before I close on a property loan, but I am still in the search phase for that property. Timelines of applying and closing on a HELOC vs a conventional loan vs a DSCR loan differ significantly.
