The draw period is the initial phase of a home equity line of credit (HELOC), during which you can withdraw funds, up to your credit limit. The draw period typically lasts up to 10 years. During this ...
The run-up in home prices in recent years, combined with factors such as inflation and high interest rates, have caused some homeowners to tap into their home equity. In many cases, borrowing from ...
Thinking about tapping into your home equity? With a HELOC, you can borrow as needed and make interest-only payments for several years. This introductory phase, called the draw period, typically lasts ...
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