Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
Chase customers who secure a new Chase home equity line of credit can save 0.25% off the standard variable home equity line of credit rate with qualifying personal https://www.paydayloanstennessee.com/cities/savannah/ deposit accounts including Chase personal checking and savings accounts, CDs, certain Chase Retirement CDs, or certain Chase Retirement Money Market Accounts. Qualifying personal investments include investment and annuity products offered by JPMorgan Chase & Co. or its affiliates and agencies. Balances in Chase Money Purchase Pension and Profit Sharing Plans don’t qualify.
The results yielded by these tools and calculators are merely estimates and they don’t guarantee available credit amount, potential savings or the like
Additionally Chase customers can qualify for a rate discount of 0.12% with automatic payment to their home equity account from their Chase checking account. To be eligible for a 0.12% rate discount, before closing, a customer must: (1) have an existing or open a new Chase personal checking account, and (2) enroll in the Chase automatic payment service for home equity accounts. With this service, their home equity account payment will be automatically deducted from their Chase personal checking account. Payments must go directly from a Chase personal checking account to the Chase home equity account and can’t be managed by third parties.
A customer can qualify for a rate discount of 0.25% when they (a) provide contracts or bids for home improvements totaling at least $30,000, to be withdrawn subsequent to closing; OR (b) withdraw at least $30,000 from their Chase home equity line of credit at closing. Discount not available for existing HELOC customers with more than three (3) years remaining in the draw period.
The Chase Home Equity Line of Credit features variable rates based on the Prime Rate (as published in The Wall Street Journal), which as of 4/3/2020, range from 3.75% ounts of $50,000 to $99,999, from 3.75% ounts of $100,000 to $149,999, from 3.75% ounts of $150,000 to $249,999, and from 3.75% ounts of $250,000 to $500,000. Rates vary depending upon credit line amount, lien position, and collateral location; please inquire about available rates in your area, and about rates for line amounts less than $50,000.
Advertised rates are tied to the Prime Rate published in The Wall Street Journal, effective as of 4/3/2020. The Prime Rate has a direct relationship to the Federal Funds Rate established by the Federal Reserve Board’s Federal Open Markets Committee. Any change in the Federal Funds Rate effective on or after 4/3/2020, will directly affect the Prime Rate published in The Wall Street Journal, as well as the rates advertised here. Therefore, depending on the date that you apply, the advertised rates can’t be available.
Lifetime APR won’t exceed 21%. All stated rate ranges apply to lines secured by owner-occupied, single-family residences (includes townhomes, row homes and condominiums), co-ops, 2-unit residences and group homes. Ask us about our collateral and combined loan-to-value (CLTV) ratio requirements to be eligible for these rates.
Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well.
The product requires an origination fee of $50, which may be financed (for TX homestead properties, the origination fee can’t be financed). The origination fee is waived if you are already a Chase home equity customer. The customer is responsible for a $50 annual fee after the first year, except for TX homestead properties. The annual fee is waived for customers who secure a new Chase Home Equity Line of Credit and open a new or have an existing Chase Premier, Chase Premier Plus or Chase Sapphire checking account.
If your property is located in AL, FL, GA, MD, MN, NY, OK, TN or VA, you’ll pay a mortgage recording tax between 0.115% and 2.175% of your credit limit amount. This tax is due at closing but may also be financed. In the Orleans Parish of LA, you’ll pay a flat fee of $325.
Federally Guaranteed Student Loans shouldn’t be consolidated because you’ll lose important federal benefits
Tax Deductibility: JPMorgan Chase doesn’t offer tax advice. Please consult your tax advisor regarding the deductibility of interest for home improvements.
Debt Consolidation Information: The amount you save on debt consolidation may vary by loan. Since a home equity line may have a longer term than some of the bills you may be consolidating, you can’t realize a savings over the entire term of your new line. In addition, your line may require you to incur premiums for hazard and, if applicable, flood insurance, which would affect your monthly payment reduction.
Important Notice to Servicemembers and Their Dependents: This refinance offer may not be advantageous to you if you’re currently eligible for benefits provided by the Servicemembers Civil Relief Act (SCRA). If you’re an SCRA-eligible customer and have questions about the SCRA or about this refinance offer, please discuss with your Home Lending Advisor.
Tools and Calculators: Tools and calculators are provided as a courtesy to help you estimate your financial needs. Chase makes no warranty regarding the tools or calculators, nor regarding the results they produce. Should you have any questions about your financial situation, Chase strongly recommends that you consult with your own financial advisor.