Will that full 20k balance be due the following month like a credit card? 

Nothing says I cant put a line of credit on it once the balance is paid down, but it will just take longer.I’m leaning towards putting the HELOCs on them as it gives me more flexibility, however with interest rates climbing that could bite me.

Remaining balance due on the land contract is around $140,000.

Construction loan through community bank, and then refinanced via a non-recourse small-balance Fannie Mae loan (10 year term/30 year am/3 year IO).

PMI is a set rate, you can look it up, I believe 1.75% upfront which gets added in your loan balance, plus I think .85%/yr added to your monthly payments.

They Must not exceed any housing requirement for the city county or state (too many people or adults or whatever in the unit)For credit score I look at things like past due balances, what they were for and when they occurred.  

From one I did years ago, most have an interest only payment for 5 years or so.......then any remaining balance gets put put on a 5-10 amortization schedule.

My guess, and it's just that a guess, is that appreciation is going to slow and the balance of power will shift away from listing agents and be more balanced between buyer/seller (shift has already happened in no small part, actually).

My credit used to be garbage (I once got turned down attempting to buy a used motorcycle) but through monitoring it, paying down balances, and making sound decisions, it improved greatly.

The balance would actually be $180k broken down and was/will be used for the following:25k - down payment on previous rental acquisition25k - refurbish our home - already spent50k - consumer debt (both cars and $15k in CC debt)80k - new primary residence down payment We'd actually cash flow $1,000 more a month with consolidating debt.Is interest only HELOC worth it?