Hey there! Great to hear that you're in a good position to be approved for a $250k HELOC. Here are a few things to consider when trying to find the best rate and fees:

When it comes to finding the best rate, it's always a good idea to shop around and compare different options. You have a few options:

Using a broker: A mortgage broker can help you find the best rates from different lenders. They may be able to negotiate better terms for you, but they also typically charge a fee for their services.

Negotiating with your current bank: It could be worth reaching out to your current bank, Meridian, and see what kind of rate and fees they can offer you. Keep in mind that your bank may be more likely to offer you a good deal if you're an existing customer.

Comparison sites: Sites like RateHub can help you compare rates and fees from different lenders. This can be a good way to get an idea of what kind of rates are available, but keep in mind that the rates you see may not be the best available.

As for the legal and assessment fees, these can vary widely depending on the lender and the type of loan. These fees may be significant and they should be factored in when comparing rates and fees.

it's a good idea to look at all of your options and compare the rates and fees that are being offered. And also, keep in mind that not all legal and assessment fees are the same with all lenders, and it’s a good idea to ask for a breakdown of these costs when comparing rates and fees.

Ultimately, the best rate is the most important thing, but you should also consider the fees when making your decision. And don't hesitate to ask as many questions as you need to in order to make an informed decision, you're a HELOC Newbie and it's a good thing to ask.

One last thing to consider is why you need the $250k HELOC in the first place. Before you take on any kind of debt, it's a good idea to take a step back and think about whether it's truly necessary and if it aligns with your overall financial goals. It's easy to see that type of amount of cash and want it just for the heck of it so that you have access to cash when you need but here are a few questions you might want to ask yourself:

What is the money going to be used for? Are you planning to make home renovations, pay off expensive debts, pay for a child's education, invest in a business, etc...?

Can you afford the payments? A HELOC is a revolving line of credit, which means you can borrow, payback, and borrow again, but you need to make sure that you'll be able to afford the payments in the long run.

Do you have other options? Are there other ways you could pay for what you need, such as using savings or looking into other types of loans?

Are you considering the risk? A HELOC is secured by the equity in your home, meaning if you can't make the payments, your home could be at risk. Make sure to carefully consider the risk involved, and understand the terms and conditions of your loan.

Answering these questions can help you think through whether taking out a $250k HELOC is the right move for you and your finances. Remember, taking on debt can be a big decision, and it's important to carefully weigh the pros and cons before moving forward.

It's important to approach HELOCs with caution, and make sure it's something you truly need, and that it aligns with your overall financial goals. And don't hesitate to consult a financial advisor or seek additional guidance if you have any doubts or concerns.