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About Home Equity | Home Lending | Chase.com

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Make the most of your home's equity videoOpens Overlay

Make the most of your home’s equity

A Chase Home Lending Advisor is here to help

About Home Equity

Access the cash you need, when you need it. You and your family can benefit from a Chase home equity line of credit to finance what’s important to you, such as home improvements, debt consolidation, tuition, and more. With a variable interest rate, monthly payment includes principal and interest on the funds you borrow—and with Chase OnlineSM Banking, you can conveniently schedule and make your payments, view account activity, transfer funds and more. 

Low rates

You can save on the interest you pay, since home equity rates can be lower than credit card or other loan rates.

Tax Benefits

When you use a home equity line of credit for home improvements, a portion of your interest may be tax deductible.

Minimal fees

Only a $50 origination fee and a $50 annual fee—no additional application fees or closing costs in most cases.

Rate Discounts

As a Chase customer, take advantage of an even lower APR:

.25% rate discount

with a Chase total Checking® or Chase Premier Plus CheckingSM account

.50% rate discount

with a Chase Premier Platinum CheckingSMaccount

Plus, you may be able to save more depending on your initial draw at closing.
An opening balance of $30,000 or more may qualify for an additional rate discount between .25% to .50%.

Chase Fixed-Rate LockSM Option

If you like predictable monthly payments, you should consider switching from a variable rate on all or a portion of the outstanding balance of your line of credit with the Chase Fixed-Rate LockSM Option. You can request to lock in a rate at your closing or during your draw period .

Lock Option Benefits

  • Predictable monthly payments.
  • No fees to switch to a fixed rate.
  • Flexibility of maintaining up to five locks at once.
  • Locks can extend into your repayment period.

Here’s how it works

  • You may have the option of locking in a specific amount at a fixed rate for the remaining term of your line of credit.
  • You can have up to five locks at any time and create names for each lock to stay organized.
  • As you pay down the locked balance, the available line of credit amount increases and becomes available for use.
  • You can cancel a lock within 45 days from the beginning of the lock. There is a fee for 1% of the original amount if you cancel after 45 days of the start day.

Want to learn more? Next step: find out if you're eligible.