It is a variable loan interest only payment starting at 6%. 

HELOC~60k out (80% LTV)-no origination fee, $99/year which can be waived if your interest is equal or higher to that $99-Interest rate- 4.75% variable-closing fees if closed before 3 years-interest only on money taken out-interest only payments for first 10 yearsCash out refi-43k out (75% LTV)-$2,400 for 1 point+ lender fees -interest Rate- Fixed @ 3.325%-increase monthly mortgage payment by $50I have a property in contract and planning on using this cash for a downpayment and repairs.

@Angel Gipson I recently did a cash out refinance (no seasoning period) on a duplex BRRRR in Oklahoma City and got a 20 year amortization, 4.75% fixed for 2 then variable.

If you're paid hourly it's pretty easy but there are rules and exceptions to almost every type of income calculation (i.e. if you get a bonus, you need to show receipt for 2 years, if you make variable/commission income you need to have a certain amount of time on the job etc.)

There are a lot of variables to consider when analyzing a property.

Any one of the many variables can be used to help strengthen an offer.

They do up to %80 LTV on investment property at 4.75% Variable and 90% on your primary residence at 4.75%. 

My cash flow @ $1200 would be around $165 if all variables remained stable.   

@Jordan Whitworth There are also some great commercial blanket options available that go as high as 75% or 80% LTV depending on the variables. 

First, I am assuming neither of the HELOCs that you are describing are fixed rates but are both variable rates (one with a 5 year draw period at a lower interest rate than the one with a 10 year draw period at a higher rate) since it is rare to ever find a HELOC with a fixed rate other than only for a short initial teaser period if offered, but those normally only last for 6 or 12 months.