financing my first property

[Jacob Daniels]

Disclaimer: I am very new to real estate investing and this is my first post on biggerpockets.

I am looking into purchasing my first property. I have been reading/researching for a while and feel ready to make the move. However, I have a few questions concerning financing (this seems to be a general theme among investors ha). Any information will be greatly appreciated. 

First, let me give some background information:

1. I am looking for rental buy and hold property.

2. My wife and I already have a house and are not looking to house hack.

3. We have day jobs and are "bankable".

My goal is to get my first property with as little down as possible. Since we will not be living in it VA loans etc do not help.

I contacted my current mortgage lender and asked them about financing options for rental property. I was told they have some in house loans for 15% down or traditional for 25% down. The in house is a good loan but 15% is more than I would like to put down.

The lender told my I could get a line of credit on my current house and use this as the down payment for the rental home. I assume she was talking about a HELOC or HELOAN. Has anyone done this to finance rental property before? If so can you please give me some Pros and Cons?

Also do you have any other options for low to no money down financing?

Thanks in advance for any advice