30 Year Fixed and LOC

[Logan Marienau]

Hello Everyone,

Hopefully I put this post in the correct place. I just had a thought come to me. I'm currently saving up money for my first rental. SFH or small multi. My question relates to financing. I'm looking to purchase a property around the $100k mark. Put down anywhere between 20%-50% dependent on the situation at the time. And then have $10k in the bank as a buffer.

Will banks do a 30 year fixed rate loan and then also allow a LOC for the equity I have in the property for emergencies?

Just a thought. Any feedback is welcome! Thanks! Logan