HELOC Pro Tip: How Do Multiple Draws Work on a Fixed-Rate HELOC? NMLS 1566096, 2664403, 1680429

Let’s say you’ve got a 5-year draw period and you make 5 separate draws (one per year). Here’s what happens:

✅ If your HELOC is fixed-rate (say, 7.5%), every draw you take locks in that same interest rate. It does not reset to the current prime rate.
✅ Each draw functions like its own little fixed-rate loan, structured over however much time is left in your HELOC term.
✅ Example: First $100K draw at 30 years = ~$699/month. A year later, another $100K draw at 29 years = ~$705/month.

👉 The key takeaway? With a fixed-rate HELOC, every draw keeps its rate stable and adjusts only by the time remaining—not market rate swings. Predictable. Transparent. Smart.

#HELOC #FixedRateHELOC #HomeEquity #Refinance #DebtConsolidation

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