So how would it even make sense to do a higher rate? And do you have to put more down or how does that work?

So the way the interest is calculated is completely different.

When you look at the amortized payback, again, you can go to any amortization calculator online, you're gonna get the same answer.

It doesn't matter what it is.

As long as the inputs are the same, the output would always be the same.

The difference with the HELOC is that the interest is calculated daily.

So every day the bank is looking at what's the unpaid balance and the interest rate for the month, and they determine an interest calculation for the day.

Like, is there a scenario where that still works?