Chase Home Equity Loans CHASE PREMIER HOME EQUITY

LINE OF CREDIT

A home equity line of credit is a revolving, variable rate line of credit based on the available equity in your home. Because it is a line of credit you can get the money you need when you want it.

Choose between the Chase Best Rate Option, or the Chase No Closing Cost Option.

At any time during the draw period of your line you can secure a low fixed rate on your outstanding balance by utilizing the Chase Fixed-Rate Lock Option — click here for details.

Interest may be tax deductible.

Only pay interest on portion of the line you use.

Access funds as you need them via your Chase Equiline Platinum Visa or line of credit check book.

Online Account Management tools.

Use as overdraft protection for your Chase checking accounts.

We can also offer peace of mind with our exclusive Chase Payment Assurance payment protection plan.

CHASE HOME EQUITY

LOAN

A home equity loan is a fixed rate and payment loan based on the available equity in your home. You get your money all at once and then pay it back in predictable, fixed monthly payments.

Choose between the Chase Best Rate Option, or the Chase No Closing Cost Option.

Low fixed APR through life of loan.

Interest may be tax deductible.

Receive a .25% discount for auto debit from a Chase checking or savings account.

Receive entire loan amount in a lump sum at start of loan.

Online Account Management tools.

Choice of payment options - either coupon book or auto debit from checking or savings account. With auto debit from a Chase checking or savings account you can receive an additional .25% rate discount.

We can also offer peace of mind with our exclusive Chase Payment Assurance payment protection plan.

Understand Equity & Cash-out Refinancing

As a homeowner, you have a great opportunity to make the most of the value in your home. You can use the equity in your home to make smart financial decisions. Here, we've provided you with some information to help you learn more about your options and understand how refinancing can help you access your equity.

What is equity?

Equity is the net value of your home that you own outright. In other words, it is the fair market value of your home minus what you owe on your mortgage. For example, if your home is worth $100,000, and the balance remaining on your mortgage is $60,000, then your home's equity is $40,000. You own $40,000 of your home free and clear.

What can I use my equity for?

You can use your equity for just about anything. Some of the reasons homeowners use their equity include:

• Consolidating debt into one payment - such as high interest rate credit cards.

• Making home improvements to increase a home's resale value.

• Putting an addition on the house to make more room for a growing family or a parent or relative who is moving in.

• Buying a car.

• Financing an education.

It is important to determine your needs and think about the nature of your expenses so you can use your equity wisely. Many homeowners use their equity for major items and not for day-to-day expenses. Once you have categorized your equity financing needs, your next step is to learn about what kinds of home financing options are available.

What is cash-out refinancing and how can it benefit me?

Chase offers two ways for you to borrow against your equity. One way is through "cash-out" refinancing. Cash-out refinancing allows you to refinance your mortgage for more than you owe and pocket the difference in the form of cash. At the same time, you may have the opportunity to lower the interest rate on your mortgage payment. Click here to check our current mortgage rates