Home equity agreement as possible short term loan solution.

[Micah Franklin]

Hello all, I have a found an amazing property and got it under contract. Im looking at all my financing options at the moment. I have spoken to to a hard money lender to get the numbers on that. I don't think could swing the monthly payment while doing the rehab. Im looking in to a home equity agreement as I have 2 other properties with around 300,000 in equity each and not having a payment is my . My question is has anyone out there used this type of loan but instead of selling after 10 years just paying it off earlier?  Thank you for your time. Im in the central Florida area.