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[quote=Anonymous][quote=Anonymous]Your reasoning is off, OP. you should not be thinking about this in terms of equity in your home, since most likely having to sell your home or have your home foreclosed on to get the equity out to pay off the loan would be a complete disaster for your family, right? Your home is collateral for a loan you would be paying out of your family's existing income. Your home is NOT a source of income. So what you need to do is figuring out if there is room in your current budget to make payments on that $100,000 loan every month. At 130k HHI if you guys are trying to save for retirement, college, have car payments, etc, there may in fact not be that much extra in your monthly budget. And don't forget that you have to budget for normal home maitainence too!

It's reasonable to put some money in the house for upgrades if they are really going to make a big difference. But 100k is a lot![/quote]

You are NUTS.  $130k income is A LOT.  A $100k mortgage is pretty small.[/quote]

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