I suggest opening a home equity line of credit. This assumes you have significant equity in you house. For example, I was approved for a $50,000 line if credit. Due to various reasons, including spending about $3,000 on myself, I have spent $30,000. For the first ten years, I only pay the interest of 4.3 percent. So for $30,000, I pay $125 a month. Also the first ten years is the draw period. This is when I can use the line of credit. Then I am allowed 20 years to pay it off. This is when I pay both principle and interest. I think this should be around 1% of the loan every month. I do not know if this includes interest charges, however, most home equity lines of credit (HELOC) are similar except perhaps the length of the payoff period. So doing the calculations, including possible additional interest charges, I see that I will be OK. This is if I stay at $30,000 in debt. I do suspect the 1% includes interest charges based on a comment the banker made to me. There is a formula that they gave me which I remember using which comes close to this for $20,000.

This is just a suggestion. Sorry for the belated response. Oh yes, I told the bank that I am using this money for home improvement, and debt consolidation. This is for the most part true.