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A HELOC, or home equity line of credit, is divided into two periods of time – the draw period, where the funds provided by the HELOC are available for withdrawal and use, and the repayment period, where the loan must begin to be repaid.

Draw period
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Alternative Meanings:
  • Draw period
    A HELOC, or home equity line of credit, is divided into two periods of time - the draw period, where the funds provided by the HELOC are available for withdrawal and use, and the repayment period, where the loan must begin to be repaid.
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