Buy and hold investment property- purchase with all equity?

[Kayla Utley]

Buying our first buy and hold investment property. We refinanced our house and planned to use the equity for the down payment. We found we have enough equity to purchase the investment property with the equity alone and avoid applying for a second mortgage. Our interest rate is great at 2.62%. If we used all equity to purchase the investment property we would do a 15 year term fixed. Pros and cons of using all equity? Is it smarter to get a second mortgage? We have options and appreciate any advice!