Why would you not do this seeems like a no braoiner. If you know in advance that your income is stable enough and that you are going to over pay anyway why not chunk away at the higher rate loasn with the lower rate heloc. I might even say that you would be well served to look at the 0% credit cards as an option as well . The Harvard Card Offereed through Juniper bank provided me with a check for 10K with no fees that I used to pay off a car loan with. Worked out great. Not certain if they still ahve that promotion available.
