Sounds like the HELOC is the way to go. You say I would be limited to the amount of principal payments made over the last 3 years? I had a higher than normal down payment plus almost 20% appreciation (according to Zillow I know that probably way exaggerated) so there the loan balance is now probably less than half of the market value of the home
Seems like it would be unwise to just wait until it really fails and then make a claim? I haven’t noticed any leaks but the attic is super cramped and filled with ducts/insulation so it would be hard to catch a leak early.
ReddittorMan OP t1_jaeo9de wrote
Reply to comment by Kind_Tangerine2190 in How would you take equity from a home to pay for a major repair? by ReddittorMan
Sounds like the HELOC is the way to go. You say I would be limited to the amount of principal payments made over the last 3 years? I had a higher than normal down payment plus almost 20% appreciation (according to Zillow I know that probably way exaggerated) so there the loan balance is now probably less than half of the market value of the home