Commercial vs Personal Loans

[Bill Hughes]

Hi all, I am just getting started in REI. I have a reno just completed and tenants ready to move in. I had planned to BRRR his one. I also just purchased a second home for reno that might be more qualified for a flip. To finance the first reno and purchase the second, I used a combo of personal savings, no interest credit cards and a HELOC against my primary residence with a plan to consolidate through a refi of reno #1 once I had tenants in. I spoke to the bank yesterday and they are eager to help me with lending, but they are strongly suggesting that I continue with another HELOC (no closing costs and 2.99 rate with option to rate lock blocks of debt) against my primary residence since I have more than enough equity there. They're claiming that this would be easier and provide a better rate than a commercial loan (which would be required to refi reno #1 because it's not my primary residence). Something doesn't feel quite right to me about going deep into debt on my primary residence but, looking for some sage advice.

Options:
- Go with another HELOC on primary residence to fund second reno and consolidate debt
- push for a commercial loan on 1st reno

- Other?

Thanks in advance!