Lowest interest rate is a significant factor and home mortgage equity interest is deductible (limited to $100K) from State and Federal income tax. Ask your home mortgage lender if there will be any fees and, if so, how much.

Discipline is required not to get in the habit of tapping into home equity too often.

But depending on the origination fees it might be worth it for a lower rate. Plus if you pay off your cards you might get a balance transfer offer, that are zero percent interest for 12-18 months, there is a transfer fee of 3%-5%. So maybe you can juggle, but you will have to get spending below your total expenses. Only way would be an actual mortgage where you take cash out.

But be aware that may be harder to clear in Bankruptcy if you became insolvent.

with credit card debt. CC debt is unsecured and can't put your home in danger while a home equity loan certainly can. JMHO

I personally never touch my home equity.

Good luck!

I absolutely need to consolidate the cc debt so I can pay it down faster and save on the stupidly high interest. Maybe 5-7 years? Then, with my "total debt" going down, maybe my credit score would edge up a bit by springtime, so additional loans (whether personal or home equity) might be more possible on an ad hoc basis for the home repairs. Although monthly cashflow for additional payments could still be an issue.

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While it's not like the house is falling apart, 5 years is certainly longer than a couple of the problems can remain unaddressed. At some point during that 5 years, I will need to be making payment(s) on the combined load of consolidated cc loan AND home repair(s) loan.

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High family income and lots of equity, but banks won’t lend because of their high debt levels. She would love a personal consolidation loan or home equity loan. Banks just haven’t said yes. So the bank of Mom helps her out frequently like when the AC needed to be replaced.

Home Equity Line of Credit can have variable interest rates so your payment might change. A home loan is more like a mortgage with fixed payments and defined payback period.
Are you able to qualify for a personal loan with such a high debt load already? Have you inquired or applied? It’s possible that high credit card debt might disqualify you for some of the loans you seek.

for CC debt, IMHO.

Rate will be higher than equity but lower than CC.