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I do home loans in LA. A lot of mortgage companies have a $25k minimum on HELOCs. Your market might be different. HELOCs are not fixed rate loans and usually have a 2% cap interest rate increase a year so when feds start raising rates your loan will be affected. Also, your payments are not fully amortized so when your bill comes you pay interest only, unless you pay extra yourself. For such a small loan, try looking into a personal loan from a credit union, you'll likely get it at no cost and I believe it's around the same interest rate as HELOCs.
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