Draw Period
The time at the start of a HELOC, often around 10 years, when you can borrow up to your credit limit; after it ends you can't borrow more and you repay the balance.
More in home equity, or see the full glossary.
The time at the start of a HELOC, often around 10 years, when you can borrow up to your credit limit; after it ends you can't borrow more and you repay the balance.
More in home equity, or see the full glossary.