Make the Most of Your HELOC

Find helpful information to understand, access and manage your BECU home equity line of credit.

How Your HELOC Works

Your BECU HELOC¹ has two distinct phases: a draw period where you access funds, and a repayment period where you pay off your balance. Understanding both helps you plan ahead with confidence.

Draw Period: Years 1-10

During the 10-year draw period,² your credit line is open and available. Transfer funds when you need them, repay and draw again — similar to a credit card.

Access funds anytime online, in person or by phone.
Minimum monthly payments are interest-only or $100, whichever is greater, and based on your variable balance.
Your APR is variable and based on the Prime Rate posted by the Wall Street Journal on the last day of the previous month, plus a margin.
Optionally, you can lock all or a portion of your balance at a fixed rate with a Fixed rate advance.³ With a fixed rate advance, your payments are applied toward both principal and interest.
Paying down principal restores your available credit.

Repayment Period: Years 11-25

After your draw period ends, you enter the 15-year repayment period. You can no longer draw funds, and your payments now include both principal and interest.

Your APR remains variable and can still change based on the Prime Rate.
Payments are recalculated to fully pay off your balance by the end of the term.
If you made only minimum payments during the draw period, payments may increase significantly to account for principal.
If you set up a fixed rate advance4 during the draw period, your rate and payment on that portion of your HELOC will remain the same until it's paid off.
Note: During the draw period, paying toward your principal, even a little, can help reduce what you owe when the repayment period begins.

Access Your HELOC Funds

When you're ready to use your HELOC, you have two options for how you access funds. Each works a little differently and knowing how both work helps you choose what's right for your situation.

Line of Credit Transfer

Transfer funds directly from your HELOC to your BECU deposit account. Interest accrues on the amount you draw at your variable rate, and your minimum payment covers that interest each month.

How To Make a Line of Credit Transfer:

Log in to Online Banking.
Select Transfers.
Choose your HELOC as the From account.
Select your BECU deposit account as the “To” account.
Enter the amount and confirm. Your funds should be available instantly when you transfer to your BECU deposit account.

Fixed Rate Advances (FRAs)

Lock all or a portion of your drawn balance at a fixed APR for a set term. Payments include both principal and interest and stay consistent throughout the term with no changes even when the Prime Rate changes.

Minimum advance amount is $5,000.
You can have up to three FRAs on your HELOC at any given time.
Terms range from 1-15 years depending on the amount.
Payments include principal and interest, set at time of advance.
Request a FRA in Online Banking, in person or by calling us.
As you pay down the principal, that amount becomes available again on your variable line.

Managing Your HELOC Payments

Your payment amount and structure depend on your account balance and whether you have a variable draw, a FRA or both. Regardless of if you have a variable balance, FRA(s) or both, you'll still have one monthly HELOC payment.

Payment Due Dates

Payments are typically due on the 15th of each month, but your first payment will not be due the same month or within 30 days of your first transfer.

Minimum Payments

During the 10-year draw period, minimum payments on your variable line of credit go toward interest only. Minimum payments start at $100. If your interest payment for the month is less than $100, the remaining amount will be applied to your principal. For example:

If you pay toward your variable balance and interest owed for the month is $60, your minimum payment will still be $100. $60 of your payment will be applied to your interest owed, and $40 will be applied to the principal, even if your account is still in the interest-only repayment period.
If your interest owed for the month is $100 and you make a $100 payment, all $100 will be applied to your interest, and no money will be applied to the principal when you pay the minimum amount toward your HELOC.
If your monthly HELOC payment due is $100 and you pay $150, $100 will be applied to your interest and the remaining $50 will be applied to your principal.

For FRA payments, your amount will include principal and interest. Your rate and payments are set at the time the advance is established to fully pay off the balance by the end of the term.

Rates and payments above are for illustrative purposes only. Actual payments will be based on advance type, rate at that time, and term.

When The Draw Period Ends

When the 15-year repayment period begins, minimum payments include both principal and interest on your remaining balance. If you made only minimum payments on your line of credit transfers during the draw period, expect a significant increase in your monthly payment.

How To Make a Payment

HELOC payments can only be made from a BECU account. We recommend using Online Banking for your payments — your full balance and all payment options are available there, in one place. For all ways to pay toward your HELOC, visit our Payments for Any Situation support page.

Set Up Automatic Payments

Schedule recurring payments through Online Banking to have your HELOC payment made automatically each cycle from your BECU account. A BECU checking account makes this especially convenient — pay directly from checking and never miss a due date.

Tips for Getting the Most From Your HELOC

A few intentional habits and actions can make a real difference in how you manage your HELOC.

Pair It With Free Checking

Get instant access to your HELOC funds through your BECU account. Transfer funds to your checking account instantly and withdraw cash within your ATM limits. Don't have a BECU checking account yet? Open one online today.

Learn about checking

Set Up for Alerts

Set up customized alerts in Online Banking for notifications when transfers are made and reminders about payment due dates. Staying informed takes little effort and helps you avoid surprises.

Leave Credit for Unexpected Needs

Consider keeping a portion of your HELOC available rather than drawing the full amount. A buffer preserves flexibility for when unexpected needs arise, like medical expenses or an emergency.

Pay Toward Principal When You Can

During the draw period, minimum payments cover interest only. Extra principal payments reduce your balance, restore available credit and reduce the total interest amount over time.

Plan Ahead for Repayment

After 10 years, the repayment period begins and payments increase to include principal and interest. The earlier you think about this transition, the better positioned you'll be.

Consider a Fixed Rate Advance for Predictability

If a consistent monthly payment matters to you and you can afford to begin paying on principal for a portion of your balance, an FRA locks your rate and sets a clear payoff schedule.

Consult a Tax Professional About Interest Deductibility

In some cases, HELOC interest may be tax-deductible depending on how you use the funds. Consult a qualified tax advisor to understand what may apply to your situation

Your BECU HELOC has a 10-year draw period during which you can access funds up to your credit limit, repay and draw again. After the draw period ends, you enter the 15-year repayment period, during which you can no longer draw funds and your payments include both principal and interest.

Your monthly payment depends on how much you borrow, your interest rate and whether your balance is on the variable portion of the HELOC or in a fixed rate advance. For example:

If you draw $50,000 and make interest-only payments at a hypothetical rate of around 6% APR, your payment would be about $250 per month.
If you move that balance to a Fixed rate advance for 15 years at a similar rate, your payment would be about $450 per month.

Rates and payments above are for illustrative purposes only. Actual payments will be based on advance type, rate at that time, and term.

Your HELOC's variable rate is tied to the Prime Rate plus a margin specific to your loan. When the Prime Rate changes, your HELOC rate adjusts accordingly, which means your minimum payment amount can go up or down even with the same amount drawn from your line.

If you want a predictable payment on a portion of your balance, a fixed rate advance locks in a set rate for your chosen term.

Yes. You can have funds on your variable line and up to three FRAs active at the same time. Each FRA has its own balance, rate, term and payment amount. Your total minimum payment each month is the interest of the variable balance minimum and any FRA payments.

Transfer HELOC funds to your BECU checking or savings account, then use them like any other deposit — write checks, pay bills, withdraw cash at an ATM and more.

Online Banking is the best way to manage your BECU HELOC — transfer funds, make payments, set up alerts and request a fixed rate advance, all in one place. If you haven't enrolled yet, it only takes a few minutes.

¹Financing is subject to BECU membership, credit approval and other underwriting criteria in the following states: WA, AZ, CA, ID, IL, KS, MO, OR, PA, SC; not every applicant will qualify. BECU must be able to perfect a first or second mortgage lien on your one-to-four family residence. Borrower will not have to pay any upfront fees to open the HELOC in normal circumstances. Borrower is required to pay for optional services (e.g., if Borrower retains an attorney that Borrower is not required to use). In South Carolina, where the law requires use of an attorney, BECU will be solely responsible for paying all attorneys' fees and costs necessary to open the HELOC and will perform this responsibility fully by paying all reasonable attorneys' fees and costs related specifically to the closing based on rates typically charged by attorneys in the local market for the closing of similar HELOC transactions. If the title report shows more than one existing lien, judgments, deceased owners or other title issues, or if the appraisal shows problems with the subject property, however, then Borrower may be required to pay third parties to subordinate or otherwise resolve such title issues and/or to repair or otherwise resolve such property problems. These third-party charges may range from an average of $150.00 to $775.00 based on the specific circumstance. This range of charges does not include estimates for the costs of home repairs. Additional state or local mortgage fees or taxes may apply. Borrower will be required to pay for hazard insurance (including flood insurance, if applicable) throughout the term of the HELOC. When the HELOC terminates, Borrower will be required to pay a reconveyance fee of up to $327.50. This fee must also be paid when refinancing your existing BECU HELOC with a new HELOC — this fee is subject to change at any time. Loan programs, terms and conditions are subject to change without notice.

²During the HELOC intro period your minimum payment amount may be less. During the intro period and after, your monthly payment will equal the amount of accrued interest, subject to the lesser of $100 or your outstanding balance. Because the minimum monthly payment during the draw period is interest only, your principal balance may not be reduced. At the end of the draw period, your monthly payment will increase and equal the amount of principal and interest necessary to pay off the loan balance by the end of the 180-month repayment period. Your payments during both the draw and repayment periods will not include amounts due for property taxes and insurance. The APRs for BECU's HELOCs are variable and are based on the highest Prime Rate as published in the Wall Street Journal on the last day of the previous month plus an applicable margin. Current HELOC rates range from 6.99% APR – 9.84% APR as of 6/15/2026 and are subject to change. The maximum APR that can apply to BECU's HELOCs is 18%. APRs do not include costs other than interest.

³Example payment for a $50,000 fixed rate advance loan for 15 years at 7.24% APR is $456.15 per month.

⁴There is no distinction between the draw and repayment periods for Fixed Rate Advances (FRA). Your monthly payment for any FRA will immediately equal the amount of principal and interest necessary to pay off the FRA balance by the end of the FRA's term.