Best Ways to Use Home Equity

[Ryan Welty]

I am trying to see what ways would be best to utilize the home equity I have in order to make some plumbing and electrical improvements for my primary residence. I have just under $100,000 in home equity (based on an appraisal in Feb 2023) and want to utilize some of that equity in order to make plumbing and electrical improvements (roughly $20k). My current interest rate is 3.375 and a cash out refinance would raise that interest rate to 6.375 and also raise my monthly mortgage payment $470 ($25k pulled out). Any other ideas or ways I can utilize the equity without doubling my current interest rate? Thanks