Ask your lender to help fill out this checklist. |
| Basic Features | Plan A | Plan B |
| Fixed annual percentage rate |
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| Variable annual percentage rate |
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| Length of Plan | ||
| Draw period |
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| Repayment period |
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| Initial fees | ||
| Appraisal fee |
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| Application fee |
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| Up-front charges, including points |
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| Closing costs |
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| Repayment Terms | Plan A | Plan B |
| During the draw period | ||
| Interest and principal payments |
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| Interest-only payments |
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| Fully amortizing payments |
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| When the draw period ends | ||
| Balloon payment? |
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| Renewal available? |
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| Refinancing of balance by lender? |
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| What You Should Know about Home Equity Lines of Credit | Glossary | Where to go for help |
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Last update: March 1, 2004