Can I get a Home Equity Line of credit or Home Equity Loan on a Free and clear home worth 350k. My debt ratios will be very high in the 70's

Ratios could be a problem but I woud start by asking local credit unions/community banks. They usually have more latitude in making this sort of decision.

Your ratios are very high and may not work. You may want to look into doing a cashout refinance and use the funds to pay off debt. Paying off debt can be done at closing. But i would need to know more about your situation.

I would suggest using some the of cash back to payoff debt at closing to help your DTI issue. You may want to look into a cash out refinance on a 30YR mortgage. With rates rising, having an ARM may not be the best idea if you've already have a high debt load or lower income (hence the dti issue)

If you have a DTI of 70% you will not be able to get a HELOC or 2nd regardless.. you could ask for less cash out.. but most lenders will limit you to 45% on Cash out transactions.. Also, if your 62 or older, you could do a reverse mortgage and pull out a boat load of equity without having to qualify, so DTI is not a consideration.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com