Help on HELOC: 5-yr draw, Principal+Int Payments

[Danny Gunawan]

Has anyone acquire a HELOC, where the payments during the draw period were principal plus interest?

Where I am worried about is having a high minimum monthly payment after I, lets say, purchase a $100,000 SFH all cash.

Let me give some more data:

Draw period = 5 years; where at the end I can either re-apply to extend the credit, or enter repayment period of 15 years

Interest (as of today) = 5.75%

Min monthly charge factor = 1.0748% of unpaid balance

So with the example of $100,000 SFH purchase, at month #1 my payment would be $1,074.80. Does this seem right? Would this HELOC strategy become unviable, or is it still ok to use for financing an investment property? Or would one combine it with a conventional loan?