Just an idea: When we financed our pond, it was strictly from savings re-financing the house. We dropped the interest from 6.8% down to 3.99% or something like that, and also reduced the length from 30yr to 15yr at the 7yr mark (so we get done 8 years sooner). In the process, we increased the loan over the remaining balance to cover some projects we wanted to do to the house. The leftovers from those projects built the pond. It wasn't an equity line of credit.

Our payments went up $150 per month, but we wound up saving more than $80K at the end of the term vs. the 30yr even with the extra money withdrawn of $20K. Win-win, and amazing how much money you give the bank to loan you money for 30 years.

Last edited by liquidsquid; 01/13/21 10:23 AM.