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HELOC Annual Fee
A HELOC annual fee is a maintenance charge some lenders apply each year to keep the credit line open, even if you don’t use it.
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Why lenders charge an annual fee
- Covers the cost of keeping the line active
- Offsets servicing and account maintenance
- Applies whether or not you draw funds
Typical annual fee amounts
- Often $50–$100 per year
- Some lenders charge nothing
- Some waive the fee for the first year
When the fee applies
- Charged once every 12 months
- Added to your balance or billed separately
- Applies during both draw and repayment periods
When the fee may be waived
- Promotional offers
- High‑credit borrowers
- Large line amounts
- Automatic payment enrollment
What the annual fee does NOT affect
- Your interest rate
- Your available credit
- Your mortgage payment
- Your ability to draw funds
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