Draw Period

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Definition: Draw Period

Draw Period
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Full Definition of Draw Period

The specified time period after approval of a home equity line of credit (HELOC) during which the borrower can draw on the credit line. For example, a HELOC might be accessible for a period of 10 years on an as needed basis. In some cases, the repayment period and the draw period are the same. In such situations, the borrowed amount would be due in full at the end of the draw period.

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https://payrollheaven.com/define/draw-period/
Modern Language Association (MLA):
Draw Period. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 19, 2024 https://payrollheaven.com/define/draw-period/.
Chicago Manual of Style (CMS):
Draw Period. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/draw-period/ (accessed: April 19, 2024).
American Psychological Association (APA):
Draw Period. PayrollHeaven.com. Retrieved April 19, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/draw-period/

Definition Sources

Definitions for Draw Period are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.