You will have to choose 1 of 2 payment options at the closing of the Home Equity Line:
Full principal & interest payment; pay the line off in a predetermined timeframe (10, 15, or 20 years).
Interest-Only payments, in order to pay the lowest per month payment this option allows you to only pay interest payments. You always have the option to pay additional principal each month.
Equity Line Payment Options
You will have to choose 1 of 2 payment options at the closing of the Home Equity Line: