06/10/2025
What’s a Draw Period? 💡
In a home equity line of credit (HELOC), the draw period is the time when you can borrow funds, usually lasting 5 to 10 years. During this phase, you can use the credit as needed, similar to a credit card, and may only be required to make interest payments.
After the draw period ends, repayment begins on the full balance. 🏡💳
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