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2. What is the draw period on a HELOC and how does it work? - AOL

   www.aol.com/finance/draw-period-heloc-does...

   In contrast, the HELOC repayment period is much longer, lasting up to 20 years. How does a HELOC draw period work? During the draw period, you’re given a set line amount to borrow against, based ...

3. Home equity line of credit - Wikipedia

   en.wikipedia.org/wiki/Home_equity_line_of_credit

   A home equity line of credit, or HELOC (/ˈhiːˌlɒk/ HEE-lok), is a revolving type of secured loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's property (akin to a second mortgage).

4. What is a HELOC? - AOL

   www.aol.com/finance/heloc-home-equity-line...

   A HELOC (home equity line of credit) is a revolving form of credit with a variable interest rate, similar to a credit card. ... How does a HELOC work? When you’re approved for a HELOC, you’ll ...

5. How does a fixed-rate HELOC work? - AOL

   www.aol.com/finance/does-fixed-rate-heloc...

   Key takeaways. The interest rate on fixed-rate HELOCs stays the same throughout the draw period. In some cases, you can switch between a fixed-rate and a variable rate on these types of HELOCs to ...

6. Pros and cons of a home equity line of credit (HELOC) - AOL

   www.aol.com/finance/pros-cons-home-equity-line...

   Home equity loan: A home equity loan is similar to a HELOC, but instead of a credit line, it gives you a lump sum of cash. Repayments begin right away, at a fixed interest rate , meaning your ...

7. Home equity loan vs. HELOC: Which is best for borrowing ...

   www.aol.com/finance/home-equity-loan-vs-heloc...

   A home equity line of credit — more commonly called a HELOC — is a revolving line of credit that’s similar to a credit card. ... Her work has been featured in the New York Times, the Wall ...