I bought a complete fixer in 2016. I've remodeled almost everything but the kitchen and yard. I've cashflowed a majority of the remodel from renters in the basement.

As previously mentioned, I'm getting remarried. I'll be heading to grad school in late 2020 or early 2021. The fiance makes a great living there and wants me to go to Brasil to wait for her visa to come through. She not being pushy. But loves the idea.

I won't decide for another few months. If I do, I need the house finished and in a position to sell or rent for top dollar. I'd like to finish the kitchen and yard by the end of August.

I applied for HELOC through my credit union and Quicken Loans for a cash out refi.

Here's the specs:

• Remaining Principal: $140k
• Current Value: $235k
• Conservative value after $20k of remodeling: $275k

Option A: HELOC with my credit union

Option B: Cash out Refi

The initial quicken offer has thousands in origination fees since they want me to purchase points. It would bring the rate down to 4.3% But I don't see the wisdom since there's a decent chance if I move to Brasil I'll just sell the property. The APR savings wouldn't recoup my fees since I wouldn't be in the loan long.

I'm leaning towards the HELOC. If I sell in the fall, the APR isn't as issue. If I rent it out, it gives me the option to return if I choose a local program. I can always refi then to get out of the HELOC. 

The HELOC would close faster and have considerably less fees. However, they said if I rented the property the HELOC would be due in full immediately. Scary.

How easy would it be for them to find out? Can they tell if my homeowners exception is removed? I wouldn't be purchasing another property as a primary residence.

Thoughts?