u/SkylarPants

We owe about $340k on a home valued around $750k, interest rate is 3.25%. Low DTI (1 car and some credit card debit @ 0 Interest). Looking to take do some repairs/upgrades to the home for about $65k. My credit union has pretty good rates (7.5%) with a 30 year term, 10 draw, 20 repay. There are no fees involved with the HELOC process, unless I close it within the first 3 years, which I don't plan on. I would also like to ask for a larger amount for future upgrades as needed, but don't have anything planned just yet.

I am thinking that this is a good option, but open to ideas.

Thanks!