Help with HELOC options or an alternative solution

[Gerald Evans]

I am highly considering taking out a HELOC on my primary home to cover costs of the purchase of a 2nd home. The new property would be an investment used for rentals and such.However, I am having difficulty with the decision to do a HELOC or consider something else. Am I missing anything? Refinancing is not beneficial because a I have a fixed 3% interest rate on the 1st home. 1 bank is working with me with 80% Loan to Value but I would like other options and higher than 80%. I tried Quicken Loans but they only offer refinancing. I tried my credit union but they are not based in the state and will not do loans outside of their general area.

Any recommendations?