HELOC with Interest-Only Draw Period

[Matthew Disney]

Hi everyone - long time lurker, first time poster.

Anyone have recent experience obtaining a HELOC on a primary residence? I'm looking for one with interest-only payments during the draw period to potentially use for a strategy like BRRRR sometime in the near future. I like the idea of being a "cash" buyer in order to be more competitive in securing my first few deals.

I recently got approved for a Bank of America HELOC, only to find out that they make you pay principal+interest during the draw period, so that was a deal breaker. And it seems like some banks aren't even offering them anymore due to the recession. I'm trying to get about $300K, interest-only draw, no starting balance. Is this realistic these days? I welcome any specific recommendations (if that's allowed).

Thank you,

Matt