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- adding a HELOC
A home equity line of credit is a form of revolving credit in which your home serves as collateral. The amount of the line is based on the available equity in your home and your credit, you can access as much or as little of your approved credit as you need at any time, providing you with maximum flexibility in using your home equity.
Requesting a line of credit
For your convenience, you can request a home equity line of credit during your closing process.
- Your mortgage and home equity line of credit can be approved at the same time, eliminating the need to go through a separate application process later.
- After closing, your line of credit will be available for use, but will cost you nothing until you decide to use it.
Easy account access
You can access your home equity line of credit using a Chase EquilineSM Platinum Visa® card or checkbook, allowing you to use your credit in stores, online catalogs and other points of purchase. Talk to your loan officer to learn more about the convenience of a Chase Equiline Card.1
Competitive rates, flexible payment plans
You'll enjoy attractive, competitive rates with all of our home equity solutions. In addition, you can choose from a wide range of payment plans, including interest-only and interest-rate lock options.
Use your credit carefully
Your available credit will be based on the anticipated equity you'll have in your new home upon closing, which will generally be equal to your down payment. Keep in mind that drawing upon your line of credit will increase your total monthly debt payments — money you borrow using your line of credit is a loan that needs to be paid back. To learn more about a home equity line of credit, talk to your loan officer.
1. Equiline cards are not available in New York, Connecticut or Texas.
