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Setting the HELOC Maturity Date

What criterion do you use in determining the maturity date of HELOC loans? Is it the closing date, or is the disbursement date the official standard?

Answer by Dan Persfull: The maturity date generally runs from the note date.


Answer by John Burnett: Although it's my sense that most HELOC accounts are at least partially drawn as soon as the rescission period is over, some aren't drawn until several weeks or months later.

I think that basing the maturity upon the draw date just would not be practical for all HELOCs.

First published on 3/7/05

First published on 03/07/2005

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