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Adam,

ive seen you post on this topic but wanted to run this past you for your thoughts.

Was thinking of getting a HELOC for 250k. For arguments sake let’s say this is agreed (it should be given the equity we have in the house even if I assume 20% price decline). I take that 250k and pay down the mortgage. The idea being to reduce our interest cost. Currently we have a 30 yr fixed rate Jumbo mortgage at 6.25% so believe this should be worth at least researching at this point.

Question would be: what would be the typical fees involved ? Would we have to pay mortgage tax on this ? Any other significant fees to consider ? (>$500)

Thanks

Stu