Home equity line of credit end-of-draw options
HELOC End-of-draw options
We want to make sure you do what's best for you. Begin learning about your end-of-draw options now before you approach your repayment period and find the option that is right for you. We’ve outlined some key things to help you understand the details of a home equity line of credit and get you started.
Option 1: Refinance your HELOC
A) Refinance into a new HELOC
You may be eligible to refinance your home equity line of credit into a new HELOC which means you would be transferring your current HELOC balance into a new home equity line of credit — with new terms and conditions.
B) Refinance your HELOC into a new First Mortgage with Chase
We want to make sure you do what is best for you. Call us to talk about refinancing your HELOC and existing mortgage (if any) into a new first mortgage with Chase.
Unlike refinancing into a new HELOC, choosing a new first mortgage would no longer provide access to revolving credit.
Option 3: Repayment Period
At the end of your draw period your account will rollover into the repayment period automatically. For detailed information on how this will affect your payment, you can learn more in our payment section.
Option 4: Lump Sum Pay-Off
For detailed information on how to complete the payoff process and to access required forms, please review our closing your account section.
If you need additional information or have questions pertaining to your end-of-draw options, please call us at 1-800-836-5656. Operator relay calls: We accept operator relay calls. If you’re deaf, hard of hearing, or have a speech disability, call 711 for assistance.