Heloc or gift funds as down payment?

[Aaron Moore]

I'm looking to get pre approved for a fha loan and I'm debating on how I want to finance the down payment and closing costs. My grandfather has a Heloc on his home which I have access to and permission to use the funds as a gift but I'm hesitant to do so since it's his money. I currently have a primary residence that I can get a heloc on but that means getting an additional credit inquiry and it adds to my DTI ratio. I'd like to get my own heloc so I can buy more properties in the future but I'm conflicted on what to do for now with the fha loan.

Any feedback or advice is appreciated.