A line of credit typically will have an origination fee upfront and then a draw fee each time you borrow from your line of credit. The draw fee will often cost in the range of 1%-3% of the amount you borrow.
If you don’t draw down on your line of credit, your lender may charge a monthly maintenance fee for non-use, which would likely be a small fee such as $20.
You will also be charged a fee if you have any late payments or if you miss any payments.
