Heloc terms on 150k loan and using money from it as down payment

[Alex Hal]

I want to take out 150k heloc from my primary residence in nyc for some of the monies to go towards down payment on investment property (enough ltv left over).   The primary note lender,  a credit union, is charging a $1,000 Fee which includes underwriting and appraisal, + title charges (1% of loan amount).  Anyone have any other experience with average costs?

Additionally,  has anyone had any roadblocks using funds from heloc towards a down payment on investment property?  I have enough recurring income to carry the investment property.