This account gives customers access to a line of credit that's available for 10 years and one month. You pay a variable interest rate on your balance and have the option to convert all or part of the balanced to a fixed-rate during the period you access the funds. The monthly payments are low because you pay interest only on your balance during the "draw period" (the period you accessed the funds). Set up payments through one of your Wells Fargo accounts and receive a 0.25% interest rate discount. There are no fees to open an account.