Home Equity FAQs

What is a home equity line of credit?

A home equity line of credit is a type of revolving credit that uses your home as collateral, or security for the debt.
Here’s how it works:

  • The interest rate is variable.
  • The monthly payment amount is based on the outstanding balance and will include principal and interest.
  • The term includes a draw period followed by a repayment period. During the draw period, you can borrow as much or as little as you need, whenever you need it.
  • As you repay your outstanding balance, the available credit amount is replenished. This means the amount you can borrow increases, up to your credit limit.
 

Am I eligible? How do I apply?

 

What are the benefits?

 

What are my options?

 

How do I access my line of credit?

 

What happens at closing?

 

What are my payment options?

 

What happens at the end of my draw period?

 

Get a Chase home equity line of credit today.
First, find out if you’re eligible.