Who did you use? What were the rates? Some of the max interest hitting 18 percent scares me, but for our situation where we don’t know exactly how quickly our home improvement projects will go or just how much we need and we can’t afford an initial 1-200k loan immediately the 10 yr draw period could be beneficial. I’m trying to look around at credit unions and found one with an intro 4.75 percent with an 8 percent max but then found out they make you pay principal up front and closing costs. Every time I feel like I’m getting somewhere there’s some sort of catch.
If you had a good experience or recently found a good rate please share where. Thank you!
Edit - located in MA, home value 570k, remaining balance 118,000. Credit score range 800-850