Home Equity Loan or Line of Credit

[Sungpil Lee]

Hi - I am looking for an advice on whether or not choose Home Equity Loan or Line of Credit. 

I understand the basic difference between these two financing options. 
What I am trying to do is to borrow enough from either option to pay for 20% down payment for the first property I am trying to buy and have a second mortgage for the remaining 80% of the property. 

With that being said, will it be better to choose Equity Loan mainly due to fixed interest rate or line of credit which gives me the fund whenever I want within the threshold? 

Or am I not including other factors? 

Please share your insights! 
Thanks,