The First Lien HELOC is the best option, as it will replace the mortgage on your home and give you a revolving line of credit up to 90% of the value of your home.The fees and closing costs on a HELOC are exceptionally low; interest rates are favorable, and you don't pay any interest on money not used, whereas with any loan product, you pay interest on every dollar you've been given access to.

Revolving credit (lines of credit that you can pull from and pay off, i.e. credit cards, make up over 30% of your credit score.

You can also do a personal loan prior to buying a home to pay off some of your debt as long as it does not wipe out all of your revolving debt for credit purposes.

@JJ HarrisMy questions generally revolve around inquiring regarding the different markets in MS to invest in, financing options, and just general questions about deals and how others found theirs.

Other then the things I read in the many books, the things I hear in many podcasts and the revolving information online.

AND finally, what does a 'revolving HELOC/LOC tied to the mortgage" mean?

Note this is as of June, 2021.Assuming you have no other recurring monthly debts (e.g. car loans, revolving credit card debt), it's fair to take your yearly income and multiply by 4 for the total amount of house you can afford.

My favorite comes from Revolver news from June 9th.

I don't think it affects your credit score because a heloc is not an "unsecured" revolving line of credit like a credit card.

LOL.Instead, I went to lunch (thank God), thought about it, and when I cam back, this was my reply:  "Of course it's OK to lose money on your first few deals, because it's a learning experience.