HELOC recommendations

[Jason H.]

Hi BP: Can anyone recommend a good bank with a low rate for a HELOC that does not have a mandatory withdrawal at closing? I've been looking at a few banks, both national and local, and many of them require you to draw a minimum at closing. My property is in Chicago, but not sure that really matters, but would appreciate recommendations on banks that anyone has had a good experience with.

[John Casmon]

@Jason H. My HELOC was/is with PNC...don't recall them making us take a draw, but if we did I know we paid it back immediately. Even so, what's the issue with taking the minimum draw and just paying it right back?