Are these good terms for a HELOC?

[Chad C.]

I was offered a 4.5 variable rate, closing cost of around $300. The way it is amortized is a little different. If it's under 5k it's amoritized 5 years. 5 to 10k 10 years, and over 15k, 15 years. 

This seems like a pretty good rate, I know some offer 2% but it's just an introductory period.

I believe I have what most banks refer to as tier 1 credit, so I qualify for their best rates. The rates go up as loan to value goes up, best rates are at 80% and increase if I go up to 90%.

So do y'all think this is a pretty good HELOC, or should I keep looking? any considerations I should think of?

Prime right now is 4% 

[Lee S.]

@Jeffrey Smith @Chad C. I went through sdfcu.com.  The fees were a bit high but again I didn't care, still the cheapest money available and will more than pay for itself the first time I use it.  Probably could have closed in 3-4 weeks but was delayed due to shortage of appraisers in my area.