Home Equity Plan ChecklistAsk your lender to help fill out this checklist. |
Basic Features |
Plan A |
Plan B |
Fixed annual percentage rate | ||
Variable annual percentage rate | ||
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Length of Plan | ||
Draw period | ||
Repayment period | ||
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Initial fees | ||
Appraisal fee | ||
Application fee | ||
Up-front charges, including points | ||
Closing costs | ||
Repayment Terms |
Plan A |
Plan B |
During the draw period | ||
Interest and principal payments | ||
Interest-only payments | ||
Fully amortizing payments | ||
When the draw period ends | ||
Balloon payment? | ||
Renewal available? | ||
Refinancing of balance by lender? | ||
What You Should Know about Home Equity Lines of Credit | Glossary | Federal Agency Contacts
Last update: July 9, 2008