Lender/Seasoned investors help

[Gursewak Singh]

Hello All,

  I hope everyone is staying safe in this crisis. I do have question, many of you prob have went thru this, hope someone can help.

I own 2 investment properties free & clear. I bought one 2 years ago & other one 1 year ago. They are worth per appraisals $ 434,000. I am going thru a commercial lender to get a Business/Portfolio line of credit. They want to give me 70% of appraised value for 2 year property but only 70% of Purchase price for 1 year old property at floating interest 5.75%-6%. They are willing to give me as a line of credit for $ 271,000 for both properties. It's a small bank here in Texas. Closing cost would be for both around $ 1700 including appraisals etc. Thoughts? 

Thanks