Interest OnlyLet me know if this is this loan is doable and if you can help:Home value per Zillow $1,125,000 (10 Rodrigues Lane, Walnut Creek, CA) (My credit score is about 790)First loan $355,000 (3.25%)Heloc $451,000 (int only until 2016 – currently just 2.75%, then I must pay principal also)My concern is that if I leave the HELOC in place, I could be faced with a MUCH higher payment when I must start paying principal on it in 2016 or faced with much higher rates in the future. My goal is to lock in the lowest rates I can for as long as possible with interest only payments.I DO understand that the lending establishment considers it a REFI WITH CASH OUT if new loan proceeds go to pay off a HELOC so what I would like to do is the following:1. I will pay off the HELOC just before new first loan closes (so that this is not "cash out")2. Get a new first for 70% of value ($787,500), interest only, is this doable at 3%?email is the fastest and best way to contact me. I never answer the phone unless we have a pre-set call as I am always involved in a project. Those who use email will get my maximum attention, response and action. firstname.lastname@example.orgNovember 15 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.