A HELOC is generally broken down into the one or two symptoms: this new draw several months, when you could withdraw fund up to your own restriction borrowing restriction, in addition to repayment several months, when you could no more withdraw funds. In mark several months, youre constantly simply needed to generate costs towards the attention on your loan, if you're from inside the cost period, you have to make repayments on the one another focus and also the an excellent equilibrium until the financing is actually paid down.