Skip to content

Repayment period

Answered by: 

Does a HELOC have to have a repayment period?

Section 1026.40(d)(5) requires the disclosure of the draw period and any repayment period. During the draw period the consumer can obtain draws on the account and make at least the required minimum payment for each billing cycle. During the repayment period no further draws are allowed and the remaining balance must be paid according to the terms of the account agreement. Some plans require payment of the full amount of the balance outstanding at the end of the draw period. Other plans allow the balance due at the end of the draw period to be paid over an extended term.


Learn more about Jack Holzknecht’s Regulation Z Rules for Home Equity Lines of Credit webinar.

First published on 09/05/2021

Filed under: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics