Trying to Refi!

Tomorrow, I am sending in my proof of income to my bank for my attempted refinancing of my house. If things work out according to plan, the refinancing will:

1. Leave my Heloc in place;
   
2. Replace my 5/1 ARM (with one year to go) with a 30 year fixed loan.
   
   1. By locking in my rate, my interest rate is going up to 5.25%. While still a good rate, I am going to miss the stellar adjustable rate that I have been enjoying. The upside – less worry.
      
   2. No closing costs or expenses – nice;
      
   3. No appraisal – I don't even want to know.
      
   4. Because the refinancing will extend my loan term by 5 years, my "mandatory" payment will go down slightly. In a pince, that my help. Nevertheless, I will use excel to determine the appropriate payment to keep the actual loan term constant.
      
   5. With the loan fixed, I will begin paying down the Heloc with a goal of paying it off in 5 years.
      

Frankly, my bank has been awesome to deal with (so far). If it works out, I will make sure to name them by name.