@Chinku Chinku the rich get rich by making their money work for them.They borrow at one rate, to invest in something that returns a higher rate - they profit on the difference.Only you can evaluate your risk tolerence though.

Depending on how it is done and what guarantees the government offers and requires of the released entities, interest rates could move slightly higher.

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

Ideally 70-75% LTV and sub 7% rate.

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

For a quick turnaround during the holidays, that rate might reflect premium timing.

@Keith AngellFrom my experience, both a HELOC and refinancing have their advantages depending on your goals.

In 1972 the 30 year mortgage interest rate was 7%.

It  depends on your risk tolerance and what other assets you’d like to protect.

This will all depend on how good of negotiator you are.