HELOC closing cost

Hi all,

If I take out a HELOC, who should I deal with? A broker or the bank? I know a broker can find me some good rates, but it is also a brokers fee that come along with that…

Also, usually how much percentage they charge for a HELOC closing?


Most people like HELOC for the fast closing and $100 dollar fee. But remember these rates are higher than conventional loans. Make sure it is a fixed rate and there is usually a yearly fee for HELOCs. Also if the investment goes bad it will be your own home that will be in jeapordy. Good Luck

Thanks for the reply…

Some broker may do the HELOC at no cost also. The banks pay the broker a small referral fee for doing the loan with them. I would try a bank and a broker. What do you have to lose?


I just recently applied for one and the C.C. was 350.00
A home equity loan will have a fixed rate. A line of credit
will be a variable rate. They are two diffrent things.