Heloc question (to pull at closing or not)

[Indra Tanudjaja]

Hi. i am wondering if other had similar situation.

my Heloc just approved at Bofa.

my plan is to use the heloc funds for flipping (down payment/rehab cost).

currently, i don't have any property to flip yet (have few realtors looking for deals)

BoA said i could get 1% rate discount on second year (first year fixed at 3.25%) if i pull out 100K at closing, and the funds need to sit there for 3 months minimum in order to get the 1% discount. (out of pocket cost would be around $1500 from interest/principal).

should i pull out 100k to get the 1% discount on second year (but no property on hand yet), or let go that 1% discount and save $1,500.

what would you do?

thank you in advance for responses.