The Chase Home Equity Line of Credit (HELOC) offers rate discounts and no annual fee for people who open or have a checking account with Chase Bank.
You can get a .25% rate discount if you have or open a Chase Personal Checking Account or a .50% rate discount with a Chase Premier Platinum Checking Account.
Additionally, the annual fee is waived for customers who secure a new Chase Home Equity Line of Credit, and open a new or have an existing Premier Plus, Premier Platinum, Chase Private Client, or Private Banking checking account.
What is a Home Equity Line of Credit (HELOC)?
A Home Equity Line of Credit (HELOC) is a variable rate line of credit that uses your primary residence as collateral or security for the debt.
You can use a HELOC to finance major expenses, like buying a second home, or take care of small home improvement projects around the house.
Your line of credit term includes a draw period, up to 10 years, followed by a repayment period, up to 20 years.
During the draw period, you can borrow as much or as little as you need, whenever you need it.
The amount of money that you may be able to borrow is based on the difference between any debts secured by your home (like your current mortgage balance) and your home’s market value.
Visit chase.com/home-equity for more details about a Chase HELOC.
Get a .25% or .50% Rate Discount on Chase HELOC
If you currently have or open one of the following accounts, you can receive a rate discount on your Home Equity Line of Credit from Chase Bank.
- Chase Personal Checking Account = .25% Rate Discount.
- Chase Premier Platinum Checking Account = .50% Rate Discount.
This rate discount is available for customers who secure a new Chase Home Equity Line of Credit by collateral located in AZ, CA, CO, CT, FL, GA, ID, IL, IN, KY, LA, MI, NJ, NV, NY, OH, OK, OR, TX, UT, WA, WI, or WV.
You can qualify for a .25% rate discount with a new or existing Chase personal checking account, or a .50% rate discount with a new or existing Chase Premier Platinum checking account.
The rate discount cannot be combined with any other offer, except for the annual fee waiver with Chase checking products.
Waive the Annual Fee on Chase HELOC
Chase HELOC customers are responsible for a $50 annual fee after the first year, except for TX Homestead properties.
The annual fee is waived for customers who secure a new Chase Home Equity Line of Credit, and open a new or have an existing Chase Premier Plus, Premier Platinum, Chase Private Client, or Private Banking checking account.
Additional Fees for Chase HELOC
The Chase HELOC requires an origination fee of $50, which may be financed (for TX homestead properties, the origination fee may not be financed).
In AL, FL, GA, KS, KY, the Orleans Parish of LA, MD, MN, NY, OK, TN and VA only, you will be required to pay for City/County/State Taxes and Stamps estimated to be $4-$3,825 ($750-$5,095 in NY), which may also be financed.
Chase Home Equity lines of credit are not available in AK, HI, and SC.