Chase Home Equity Utilization

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Make the most of your home's equity

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Pay for things that matter to you.

There are so many ways to use your home equity line of credit. Sign in to your account and transfer money from your home equity line of credit to your checking or savings account.

Transfer money now

Frequently asked questions

We make accessing your line of credit easy. You can:

Sign in above and easily transfer cash to your checking or savings account.
Call 1-800-836-5656 or visit your nearest branch.
Use your line of credit checks to draw money from your account, if your account includes
check access.

Yes, you can use funds from your line of credit to pay off other balances. Or we can combine those other balances into your line of credit — returning your other balances to zero — and you'll make one monthly payment.

Yes, the Chase Fixed-Rate Lock^SM Option allows you to lock in an interest rate on all or a portion of your outstanding balance during your draw period. If you want a fixed monthly payment amount for major purchases, this option lets you set up a regular payment schedule, while maintaining easy access to your remaining line of credit funds.

During the draw period, you are allowed to access your line of credit and borrow as much or as little as you need. Your draw period can last up to 10 years and your only limitation is that you stay within your credit limit. Think of it as a revolving line of credit and, as you pay down your balance, your available credit will replenish for future draws. Your minimum payment is (for lines of credit originated after June 4, 2017):

Draw Period: 0.25% of principal balance plus Accrued interest equals Minimum monthly payment

Note: Your minimum payment during your draw period is 0.25% of unpaid principal balance of the revolving line on the billing date plus finance charges accrued for that billing cycle or $100.

When your draw period ends, you will enter the repayment period. Your repayment period can last up to 20 years, in which time you are expected to repay your outstanding balance. It's important to know that you’ll no longer have access to your line of credit during this time and you can expect a change in your payment amount. Your minimum payment is:

Repayment Period: Principal balance/remaining payments plus Accrued interest equals Minimum monthly payment

When you use a home equity line of credit for home improvements, a portion of your interest may be tax deductible. Because tax laws vary from state to state, talk with your tax advisor about what interest may be deductible based on your situation.

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