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I'm a banker here in Texas, so I really don't know much about HELOC's in your state. But with a HELOC the rates are variable, so right now they are really low. Now as prime does go up, the rates will go up also. I know with my bank, you can borrow against it and then you can lock it in at anytime twice in one year. So lets say, you have a 25K HELOC and borrow 10K, you can lock the 10K in at a fixed rate. Also, the interest can be tax deductible, where as you can not write off the interest on any other loan or loc. If you have any more questions, please let me know.
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Kelly
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