That depends. An outstanding balance will have a minimum monthly payment, which will fluctuate each month during the draw period because the payment is based on a few different factors, including:

- The total amount of funds withdrawn or transferred
- The number of days in the billing cycle
- Changes to the index rate(s)
- Over-credit-limit amounts
- Annual fees or other charges
- Past due amounts on the account

# Related Articles

## Can A HELOC Reduce The Monthly Minimum Payments

Yes, it can reduce the monthly minimum payments and as time goes on the monthly minimums will continue to decrease as the principal balance is lowered. In fact, most HELOCs only charge an interest-only payment that is typically much less than a ...## Can A Payment Be Skipped With A HELOC

No, one must make at least the minimum monthly payment.## We Need Help Lowering Our HELOC Payments Due To Loss / Income / Medical Issue

One can get the HELOC payment down a bit by contacting the lender and asking them to recast the loan by stating, “Can this loan be recast with the remaining principal balance, over a 30 year term, so it drops the minimum payments?”## How Much Extra Do We Add To Monthly Payments

Nothing! In fact, the more one uses their HELOC like a regular bank account - the quicker the mortgage is paid off, but with zero extra payments!## Does 401(k) Proceeds Count Towards Monthly Income

Yes, a 401(k) can be used for a down payment and count as income for a home loan. The 401(k) will either be calculated based on the lump sum amount and then divided by 24. The lender calculates what a lump sum figure would be when dividing it over 2 ...