►Get Weekly Tips, Tricks, and Resources to Purchase your First or Next Real Property! https://mailchi.mp/ed4905bb15df/newsletter ► Want $6000+ annual cashflow from a rental property? Book a call now! https://calendly.com/evanphoenixrealestate/1hour ►My FREE Real Estate Investing Resources To Help you Analyzer Better! Rental Property Calculator: https://mailchi.mp/d4952d7ecdac/multifamily-rental-property-calc House Hacking Rental Calculator: https://mailchi.mp/428f84469172/free-house-hacking-rental-calculator ►Subscribe to my YouTube Channel https://www.youtube.com/channel/UCoFrE4l-TjXhtyEKejC5rBw?sub_confirmation=1 In this video I go into depth on explaining how HELOC payments work and How to pay off a HELOC. A Home equity Line of Credit is a great resource to use to build wealth, but if you are unsure on how the payment structure works then you are setting yourself up for failure! Don't forget to like and subscribe! HELOC Payments Explained | How To Pay Off A HELOC #heloc #homeequitylineofcredit #helocexplained ►Follow on Instagram https://www.instagram.com/evanphoenix0/ ►Book Recommendations Rich Dad Poor Dad - https://amzn.to/41pltX1 The Power of One More - https://amzn.to/3XYrWFq The One Thing - https://amzn.to/3xQKa16 Atomic Habits - https://amzn.to/3IvzzgL The Multifamily Millionaire - https://amzn.to/41ltvAe Real Estate by the Numbers - https://amzn.to/41j9I4B The Book on Investing In Real Estate with No (and Low) Money Down - https://amzn.to/3Iv3HJc ►My YouTube Gear Camera (M50)- https://amzn.to/3xPrK0B Lens (Sigma 16mm)- https://amzn.to/3Y0B5gT Mic - https://amzn.to/3KIH5Ym SD Card- https://amzn.to/3ZhEybN Tripod- https://amzn.to/3YX7ki1 Lighting- https://amzn.to/3ECoNEt ***DISCLAIMER: First off, thank you for all the support. All content from the Evan Phoenix YouTube channel are my own thoughts and opinions. The information from this channel should not be taken as legal of financial advice. Some of the links in the description may be affiliate links where I will benefit from, if you were to click the link and purchase. The links do not include any additional costs to the purchaser. Time Stamps// 00:00 Introduction 00:52 Draw Period 01:48 Repayment Period 03:17 Payment Calculation 04:13 Variable Interest Rate 05:03 Use HELOC For Short Term Debt