Understand your next step

What happens when the draw period ends?

Your line may stop allowing new draws and start requiring larger payments.

Read the repayment terms now

Find the end date, remaining balance, repayment length, rate formula and whether a balloon amount is due. An interest-only payment during the draw period does not pay down the amount borrowed.

Compare the paths before the deadline

Ask your current lender about repayment and any available modification or conversion. Compare the cost of replacement financing without assuming it will be approved or available in time.