How much should a HELOC subordination cost?

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How much should a HELOC subordination cost?

jerry

Posted on: 09th Aug, 2010 09:59 pm

I am refinancing a first mortage. I will pay off the balance of my HELOC, but I am attempting to keep the existing HELOC at a reduced credit limit. The new mortage lender wants $200.00 to do the HELOC subordination, and they say the HELOC lender will also want a fee. What is the usual "fair" cost for this proceedure?

Thanks, Kelly

Total Reply : 1

Hi krkellyrob,

The cost may vary from lender to lender. You need to contact your lender and check out the fee that he would charge you for a HELOC subordination.

Thanks,

Jerry

jerry

Posted on: 10th Aug, 2010 03:13 am

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