HELOC:Pros:Flexible borrowing - borrow as needed giving you flexibilityLower initial costsVariable interest rates - can be a con if rates rise, it can also be beneficial if rates decreaseCons:Variable interest rates - rate can fluctuateMore risk of foreclosure - you're adding a second loan

How will the loan work exactly?

My appraisal came back low and the loan amount and down payment are now changing because of this.

USDA Loan depending on location, ideally 0% down3.

Investment Info:Other private money loan investment.

You typically have a certain time frame (known as contingencies) to get the loan closed.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

Investment Info:Small multi-family (2-4 units) private money loan investment.

Loan consultants also needed.

I’ll pay a monthly agreed upon amount to seller and have one year to pay off the full amount/find a loan.