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  HELOC END OF DRAW PERIOD
  
  Nearing the end of draw duration on your home equity line of credit?
  
  Understand your options and get the guidance you require before reaching this crucial transition point.
  
  What is the home equity credit line (HELOC) end of draw duration?
  
  The HELOC end of draw period is when you go into the payment stage of your line of credit. You are now needed to start repaying the principal balance in addition to paying interest. At this moment you may no longer gain access to funds and you might no longer convert a variable rate to a fixed rate.
  
  What should I expect at the HELOC end of draw period?
  
  Your monthly payment may increase substantially as you move from paying interest just to paying principal plus interest. The quantity of increase depends on your principal due, rate of interest and your payment period, which is usually 10, 15 or 20 years. Contact a banker at 800-642-3547 to talk about the regular monthly payment on your HELOC.
  
  What can I do to lower my monthly payment at the end of draw duration?
  
  - Go to your HELOC account in electronic banking or the mobile app and choose lock or unlock a fixed rate and follow the onscreen prompts to lock in a fixed rate. Or, call a lender at 800-642-3547 to go over the choice of securing a fixed rate.1 You must do this before your end of draw period.
• Request a brand-new HELOC or a home equity loan.
• Make additional primary payments above your required regular monthly payment. Visit to usbank.com. Enter a quantity in the primary payment box on the Pay a U.S. Bank Account page. You may also check out a branch.
• Pay off your balance. Visit a branch to get a reward quote and pay your balance completely while you're there. Or, call 800-642-3547 for a benefit 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 do not have your statement, you can call 800-642-3547 for assistance.
  
  What if I have an absolutely no balance at end of draw?
  
  If you reach completion of draw date with an absolutely no 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 present contract?
  
  No. We don't provide extensions on any home equity loans or home equity credit lines at this time. However, if you want to refinance your credit line, call us at 800-642-3547.
  
  What can I do if I am concerned about handling the boost in my month-to-month payment?
  
  Talk with us about a potential loan adjustment. 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 an e-mail to MAP@usbank.com.
  
  1. Home Equity Line of Credit - Fixed Rate Option: A maximum of 3 active Fixed Rate Options are allowed on a Home Equity Line of Credit. Residential or commercial property insurance coverage is needed. Other limitations might apply.
  
  Home Equity Line of Credit: Repayment options might vary based upon credit credentials. Choosing an interest-only payment may trigger your monthly payment to increase, potentially considerably, as soon as your line of credit shifts into the repayment duration. Interest-only payment may be unavailable. Loans undergo credit approval and program standards. Not all loan programs are available in all states for all loan quantities. A U.S. bank account is required to receive the lowest rate however is not required for loan approval. Customers in certain states are eligible to receive the preferred rate without having a U.S. Bank personal monitoring account. Rates of interest and program terms are subject to alter without notification. Credit line may be reduced, or extra extensions of credit restricted if particular situations occur.
  
  An early closure fee of 1% of the original line amount, maximum $500, will apply if the line is paid off and closed within the first 30 months. Residential or commercial property insurance is required. Other constraints may apply. Customer pays no closing expenses. Initial escrow associated financing expenses might use. An annual cost of $75 will apply after the very first year and is waived with an existing U.S. Bank Platinum Checking Package.
  
  U.S. Bank and its agents do not offer tax or legal recommendations. Your tax and monetary circumstance is special. You ought to consult your tax and/or legal consultant for guidance and information worrying your particular scenario.
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