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Something else I forgot to mention. Depending on the bank, you may be charged closing costs. And the bank may require an appraisal which may or may not be a cost you would incur.
There's no harm in getting a HELOC credit line larger than what you would use. Mine is at $75k and I haven't even tapped 3/4 of it at any given time. As long as with the credit line you're requesting there is enough equity left over that doesn't cause an issue with the loan to value ratios.
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