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I work in this industry. If its a small loan amount then go to your bank and get the HELOC. If the loan amount is above 75k get a mortgage, most lenders will get you a rate in the 3s with no closing cost. The only issue with most HELOCs are the are usually interest only loans and are ARMs. If you plan to pay it off quick just go HELOC, but long term I would go mortgage. Either way get one or the other a write is a write off. One last thing, if you could pay back the 401k without a loan, that would be best because on an investment property you can write off depreciation and many other items, which could at the end save you money and you won't have to take out a loan. Anyways good luck and smart move to buy, these prices won't last forever.
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