Fairly common in other areas. In Texas it is a requirement, as Texas does not allow a balloon payment on a HELOC. The early disclosure and note agreement just has a draw period and a repayment period built into it. As far as I know most all HELOC doc prep systems support this product. Just be aware that even once the HELOC converts to P&I, it is still an open-end credit and you need to service it as such, i.e. monthly open-end period statements.
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