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Lock in a home equity line of credit rate

Lock in a fixed rate

In an environment where interest rates are rising, a variable interest rate can cause uncertainty in your monthly payment. If you lock a rate on a portion of your outstanding balance, your monthly payment won't change on that balance for the length of your lock period. Our Chase Fixed-Rate Lock Option can help you manage your monthly payment by giving you control over how much you pay and for how long.

Important: The lock is subject to fixed rate pricing which may be higher than your current variable rate.

We've outlined some key features to help you understand the Chase Fixed-Rate Lock Option.


The basics of a Chase Fixed-Rate Lock

  • You can lock all or a portion of your HELOC balance into a fixed-rate for a specified period of time during your draw period.
  • The Chase Fixed-Rate Lock Option offers a fixed-rate over an agreed lock term.
  • Minimum lock amount is $1,000.


Minimum lock term is 12 months.

  • Important: If you cancel your rate lock before your agreed lock term ends (without paying off the full amount of the locked principal plus all accrued interest to date) you may need to pay 1% of the original-locked amount. This may be subject to change.
  • Important: You can cancel a lock within 45 days of set up without a fee.

You can lock a HELOC rate anywhere from one year up to two months before your maturity date.

  • For example: If the combination of your draw period and repayment period is 30 years (360 months) and your account is in year 5 (60 months) you can only lock for a maximum of 298 months (360 months – 60 months – 2 months).

Payments will be a fixed principal-and-interest payment amount that will repay the locked principal balance due over the lock term.


  • Paying down your lock balance will increase your available funds during your draw period.
  • You can pay off the full amount of the locked principal plus all accrued interest to date at any time without incurring a fee.
  • You can open up to five locks per line of credit at a time.

Sample chart: Available fund $20k; Consolidate debt 8 year lock $30k; Education expenses 3 year lock $15k; Replace appliances 6 year lock $15k; Bathroom remodel 10 year lock $20k

How it works

You can have up to five locks and can use each for different needs.  As you pay down the locked balance on each, the available line of credit amount increases and becomes available for use during your draw period.

Getting started with a Fixed-Rate Lock

Request an interest rate quote on a lock online or by calling us at 1-800-836-5656Operator relay calls: We accept operator relay calls. If you’re deaf, hard of hearing, or have a speech disability, call 711 for assistance.

  • Important: You can only open a lock during your draw period.
  • An interest rate quote on a lock is only good for the day it is requested, because interest rates may change on a daily basis.

We determine your application date based on the day that you applied and were subsequently approved.

Important: Lock agreements for 1% of the locked principal balance means monthly payments will decrease as the locked principal is paid down.