No. of Recommendations: 0
Great increase in value of the home. Most real estate doesn't outperform the market that well.

As to your question, I have the following ideas.

I just refinance my home. However, the lenders I talked to would not loan higher than 85% of the appraised value if cash was taken out and charged extra fees. You may want to find out if you could get enough cash out and if there would be an increase in fees (read increase to annual percentage rate).

In my opinion, if you can make the payment and get rid of the debt in 5 years, you may be better off using the home equity. I know my local credit union does a no fee home equity loan. The only cost is the appraisal which you already have. This may be a cheap alternative and the interest is probably still tax deductible.

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