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With regards to the Home Equity Line, that is a strategy I have put forward to people in the past to use as an emergency fund. Smart move. My advice would be not to use it on your mortgage. Keep it for emergencies. It gives you flexibility. And most importantly, it gives peace of mind.

Try refinancing your mortgage if you want to lock in a lower rate. But if that’s not worth it, using your equity line is probably not really worth it either.

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