Olmos duplex Scenario models
Figure HELOC · Texas

Your home equity line of credit

Secured by your home · Fixed rate, fixed term

Initial draw
$80,668
APR (fixed)
10.20%
Monthly
$734
Term
30 yrs

How it works over time

HELOC timeline showing draw period and repayment period Five-year draw period where money can be borrowed, followed by a longer repayment period where the balance must be paid down Draw period 5 years · borrow as needed Repayment period Balance pays down to zero Year 0 Year 5 Year 30 Pull money out, pay it back, pull again No more draws · monthly payments only

Your $734 monthly payment

Interest (month 1) $686
Principal (month 1) $48

Early payments are mostly interest. The principal share grows each month as the balance shrinks.

Rate is locked, but know the ceiling

Floor
10.20%
← You
Cap
14.91%

Each draw locks its own rate. Your initial draw is locked at the floor — the best possible outcome.

Things the lender can do

Demand it all back
If you miss payments, let insurance lapse, or another lien forecloses
Freeze the credit line
If your home value drops or your finances change materially
Foreclose on your home
This is secured debt — the house is the collateral

Quick facts to remember

Min draw
$4,000 per request
Max balance
80% of home value
Late fee
5% after 10 days
No prepay penalty
Pay extra anytime
Closing costs
$0 – $7,335
14-day window
To lock terms
Prepayment impact

What a $20k paydown actually does

Same $734 monthly payment · dramatically shorter loan

Time saved
~18 years
30 → 12 years
Interest saved
~$139k
$184k → $44k
Return on the $20k
~7x
$20k avoids $139k

Loan balance over time

Without paydown

Starting balance$80,668
Monthly payment$734
Payoff in30 years
Total interest$183,572
Total paid$264,240

With $20k paydown

Starting balance$60,668
Monthly payment$734
Payoff in~12 years
Total interest$44,294
Total paid$124,962
Why this works so well

Every dollar of the $20k goes 100% to principal — no interest. Shrinking the balance early means every future payment carries less interest too. At a 10.20% rate, the savings compound fast.