Equity line of credit payments

[Noel Fleming Jones]

I applied for about a 95k equity line on my rental property today and the loan officer said I'd have to pay $340 a month interest on the line even if I have no draws against it.  

Either I misheard him or one of us is confused--isn't that like saying you have to pay interest on your 20k credit card limit, even if you never use the card?

He must have been referring to interest costs if the whole 95k got deployed, right?