HELOC vs Conventional loan

[Julian Gutierrez]

I am interested in 2 investment properties at 58k each. I have a HELOC for 43k @ 4.75% available. 50k in cash. A local lender is currently looking into financing each one with 20% down + 3.5k closing cost each @ 4.6%.

I also have the option to increase HELOC to 60k but that would take a couple weeks and the properties could be sold by then. Just looking to see what others would do in this situation. Go for the local lender option, or try to pay with cash (cash+heloc) to save on closing and offer 110k for both units. Thanks.