HELOC for cash purchase: Exit strategies?

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Has anyone used a HELOC to make an 'all cash' purchase on a property? I think an 'all cash' purchase can often give you a better deal, but the last thing I want is to have a house on a variable rate given interest rates are so low,

What were your exit strategies?

Were you able to get a 30-year mortgage on the already purchased home?  I don't know how that would work...  Thanks!