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  HELOC END OF DRAW PERIOD
  
  Nearing completion of draw period on your home equity line of credit?
  
  Understand your alternatives and get the assistance you require before reaching this crucial transition point.
  
  What is the home equity line of credit (HELOC) end of draw period?
  
  The HELOC end of draw period is when you get in the payment phase of your credit line. You are now needed to begin paying back the principal balance in addition to paying interest. At this moment you may no longer gain access to funds and you may no longer transform a variable rate to a set rate.
  
  What should I anticipate at the HELOC end of draw period?
  
  Your month-to-month payment may increase substantially as you move from paying interest only to paying principal plus interest. The quantity of boost depends upon your principal due, rate of interest and your repayment period, which is usually 10, 15 or twenty years. a banker at 800-642-3547 to talk about the month-to-month payment on your HELOC.
  
  What can I do to minimize my month-to-month payment at the end of draw period?
  
  - Go to your HELOC account in electronic banking or the mobile app and pick lock or unlock a fixed rate and follow the onscreen prompts to secure a fixed rate. Or, call a banker at 800-642-3547 to go over the alternative of locking in a fixed rate.1 You should do this before your end of draw period.
• Make an application for a brand-new HELOC or a home equity loan.
• Make extra primary payments above your required monthly payment. Visit to usbank.com. Enter an amount in the primary payment box on the Pay a U.S. Checking account page. You might also visit a branch.
• Pay off your balance. Visit a branch to get a benefit quote and pay your balance completely while you exist. Or, call 800-642-3547 for a payoff quote and then pay online or by mail. If paying by mail, send your check to:
  
  U.S. Bank Consumer Loan and Lease Operations - FCPT P.O. Box 3427 Oshkosh, WI 54903
  
  HELOC end of draw FAQs
  
  Where can I discover my end of draw date?
  
  You'll find it on the upper right corner of your HELOC declaration. If you don't have your declaration, you can call 800-642-3547 for support.
  
  What if I have a no balance at end of draw?
  
  If you reach the end of draw date with a zero balance, your home equity line of credit will be closed. There is no requirement for you to do anything.
  
  Can I get an extension on my existing agreement?
  
  No. We don't offer extensions on any home equity loans or home equity credit lines at this time. However, if you wish to refinance your credit line, call us at 800-642-3547.
  
  What can I do if I am worried about handling the increase in my regular monthly payment?
  
  Speak to us about a possible loan modification. Call 800-642-3547 Monday through Friday from 7 a.m. to 9 p.m. CT and Saturdays from 9 a.m. to 1 p.m. CT. Or, send out an email to MAP@usbank.com.
  
  1. Home Equity Line of Credit - Fixed Rate Option: A maximum of three active Fixed Rate Options are allowed on a Home Equity Credit Line. Residential or commercial property insurance coverage is required. Other restrictions might apply.
  
  Home Equity Line of Credit: Repayment choices may differ based upon credit credentials. Choosing an interest-only payment might cause your regular monthly payment to increase, perhaps significantly, as soon as your line of credit transitions into the payment period. Interest-only repayment might be unavailable. Loans are subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. A U.S. Bank personal checking account is needed to get the most affordable rate but is not needed for loan approval. Customers in particular states are qualified to get the preferred rate without having a U.S. Bank personal bank account. Interest rate and program terms go through change without notice. Credit line might be reduced, or additional extensions of credit line if specific situations occur.
  
  An early closure cost of 1% of the original line amount, optimum $500, will use if the line is paid off and closed within the first 30 months. Residential or commercial property insurance coverage is required. Other constraints might apply. Customer pays no closing expenses. Initial escrow related financing expenses may use. An annual charge of $75 will use after the very first year and is waived with an existing U.S. Bank Platinum Checking Package.
  
  U.S. Bank and its representatives do not offer tax or legal suggestions. Your tax and financial circumstance is distinct. You must consult your tax and/or legal advisor for suggestions and info concerning your specific situation.