Advice on buying 2nd home & renting the 1st

[Maria Medina]

Hello I am looking for advice on how to best finance the down payment of our new permanent residence we are shopping for. We plan to rent our current house and use it as our 1st rental investment. We have 70% of a new 20% down payment saved for our new home and $100k in equity from the house we live in now we could potentially use. Given interest rates are above 7%, What do you recommend the best way to finance our new home would be? I get a little confused on the pros & cons of the varios options (save & use all the down payment in cash, vs HELOC vs home line of credit). Thank you for your advice!