01-19-2004, 06:01 AM
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 Re: HELOC Do's and Don'ts On Sun, 18 Jan 2004 18:52:45 CST, Wil <wussery[at]rcn.com> wrote: - quote - > X-No-Archive: Yes
We got a HELOC with DeepGreen ( http://www.deepgreenbank.com ),> Are there any Home Equity Line of Credit loans that allow you to pay down > the principal during the Draw period? I have been investigating some HELOC's > and the ones that I have come across only allow you to pay interest only > during the draw period and after the draw period you pay interest + > principal to pay off the loan. > Is this standard practice for this type of loan? > Are there any HELOC's that do not require you to take an inital draw? last year, and there's no restriction on principal payments during the draw period. We've been paying it down, actually. Heck, I can't recall encountering any HELOCs where there was such a restriction, and we looked at quite a few of them. - Rich |
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01-18-2004, 11:52 PM
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| HELOC Do's and Don'ts X-No-Archive: Yes Are there any Home Equity Line of Credit loans that allow you to pay down the principal during the Draw period? I have been investigating some HELOC's and the ones that I have come across only allow you to pay interest only during the draw period and after the draw period you pay interest + principal to pay off the loan. Is this standard practice for this type of loan? Are there any HELOC's that do not require you to take an inital draw? |
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| donts, heloc |
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