Why would you want to replace zero percent interest with anything higher? 

I financed my house in 2012 and I was given a timeline when I would be able to get out of PMI so thankfully there is no lifetime PMI.Before you refinanced and did your second appraisal, did you have any idea you would be getting so much equity?  

It appears that number is a maximum 2% annual and 6% lifetime of the loan increase.

@Josh Prince Josh, I can't speak for other TK providers, but the reason I can't keep everything I offer is because keeping them requires 20 to 25 percent down.

However I do not have 15 or 20 percent to put down, but I am saving rigorously. 

Then pay off the higher percent LOC with the cash out proceeds.

As a lifetime resident and realtor, Ive got the 'scoop'.

 (1) 50% of the as is market value cash and to close on the day of their picking, and as soon as 7 to 14 days to make sure you can get clear title and do an inspection for your partner  or even get a bpo (so you can wholesale it), (2) 25% percent cash up front and then payments for a 75% market value

A house down the road got basement waterproofing done PLUS Perimeter drains PLUS sealed it with tar (Lifetime warranty) for $20,000.

If they are appalled at my number then I explain what I am seeing for comps in their area, the holding, financing, closing, realtor commish, rehab costs, then explain what percent we need to make a profit.Like I said earlier, typically if they are motivated, they are just happy you are helping them.