We did a 3rd mortgage at 7.24% for 15 years on our pool. We just bought our house in March and did an 80-15-5 to avoid the PMI. We got 5.75% on the first (30 year fixed) 8.25% on the second (15 year fixed balloon amortized over 30 years) and now 7.25% on the third (15 year fixed).

It really helped us that we just bought the house so our appraised value was what we paid for it. With the 3rd mortgage they let us borrow up to 125% of appraised value + 50% of the value of the improvement. This was more than enough. The whole thing cost $85 processing fee.