Is this loan worth it or should I shop more?

[Joseph Bagley]

Your goal and story: Less than a year ago I took out a heloc on my condo to pay off all my debt except my cars. The heloc was for $48k I used $38k. Bought my current condo 5 years ago for $273k refinanced about 4 years ago I have $259k on the current balance. It appraises for $400k now. I'm wanting to refinance out of VA loan and pay off the heloc. I want to use the VA loan to purchase another home to live in and use hard money for rental property investments. Planning on renting current condo once we find another place.

I'm using the same broker that I bought the condo with. Refinancing to a conventional using $300k to cover everything with a 4.1% interest 30 year fixed. The VA loan is currently at 3.75%

Does this sound good/great or should I look to the credit union that I got the heloc from? 

Is it ‘frowned upon’ to want to look even though this broker has helped me? 

My broker couldn’t get me the heloc less than a year ago but referred me to a friend from the credit union. I was thinking about going to the credit union with my plan and see what they might be able to work out.

Type of property: Condo

Location of property: Chula Vista, CA

Purpose of financing: Free up VA loan

Type of financing sought: Conventional 

Down payment: No down payment

FICO: Good

Credit issues: None

Additional details: