CD secured line of credit

[Brandon Turner]

Just wantedt to know opinions of people who have used cd secured lines of credit for purchasing houses. Have lender who is basically offering 2 points over what a 5 year cd would pay. So right now I could lock in at 2.6% for 5 years with like $300 admin fee with no prepayment penalties.. Thinking it  would be be a good way to make cash offers then later when equity position is good to cash out with long term refinance and repeat. Any thoughts