What is a HELOC draw period?

The HELOC draw period is the beginning phase of a home equity line of credit, during which you can take out money from a revolving line, up to a certain limit. The draw period is 10 years. During this time, you’re only required to pay interest on what you borrow.

^{Rates, fees, and terms as of 01/20/2026 and subject to change without notice.}