Originally Posted by
radonc1
....do not think that a bank will pay for them without extracting money from you in some other way (such as making you pay points or charging a substantially higher interest rate).....
In our case the cost was $0, but you are correct that the interest rate formula (prime + X) is higher than others which were available at the time. This served our purpose, because we expect not to use the line, but the interest rate should be a consideration if you are intending to use it.