What is the draw period on a HELOC?
It’s the fun part, when you get your money. But you have to be ready when it ends.
5 min read
Oct 20, 2025
Erin Lowry
Expert Reviewer, Personal Finance
EXPERTISE
- Credit cards
- Banking
- Consumer loans and debt management
- Mortgages
- Real estate
- Personal finance
Bankrate's Expert Contributors
Our Expert Contributors are a select group of creators, experts and thought leaders who share first-person perspectives on finance and its intersections with our lives.
Meet our expertsAbout Erin
Erin Lowry is the author of the four-part Broke Millennial series, including: Broke Millennial, Broke Millennial Takes On Investing, Broke Millennial Talks Money and Broke Millennial Workbook: Take Control and Get Your Financial Life Together. Erin’s been featured in The New York Times, Wall Street Journal, and on GMA3, ABC News, CBS Sunday Morning, CNBC and The Rachael Ray Show. She has written for The New York Times, USA Today, and other major publications.
Erin's latest articles
-
-
Bank of America Unlimited Cash Rewards vs. BankAmericard
Are you more interested in a rewards program or a longer intro APR offer?
6 min read Sep 30, 2025 -
When should I drop full coverage from my car insurance?
Unlike other necessities, insurance feels intangible. You can’t see or touch it, and you cross your fingers you’ll never use it. You may only think about insurance when you make a payment or need to [...]
6 min read Sep 30, 2025 -
Best credit counseling services
These credit counseling companies can help you get much-needed financial relief.
4 min read Sep 30, 2025 -
Are annuities a good investment?
Are annuities worth it? Learn their pros and cons and if they’re good investments.
3 min read Sep 05, 2025 -
What are the pros and cons of home improvement loans?
Home improvement loans are worth it if you budget and plan carefully for payments.
6 min read Aug 22, 2025 -
Buying a home together before marriage: What to consider
Home purchases are always complicated, but it’s trickier to buy with someone you aren’t legally tied to.
4 min read Aug 22, 2025 -
Covered call options strategy: The key risks and returns
A covered call is a lower-risk option strategy and it’s even suitable for beginning options investors.
6 min read Aug 22, 2025
