Heloc or fixed conventional

[Brandon Drzewicki]

So I’m likely about to purchase a rental property and I have a 220k pre approval but I realized also today I could likely use the heloc I have open at a .75 lower rate interest rate interest only granted floating and similar down payment if I buy at the right price. If interest rates go down in the next year or 2 I was thinking why lock into to a nice stable but also expensive Fannie Mae mortgage if I am going to refi when rates likely go down to 5%. I am rolling the dice a little on the floating rate but it seems like we are at the peak of rates. I don’t know what would you do? Heloc or Fannie Mae…?