Disclosure information
All products are subject to credit and property approval. Program terms and conditions are subject to change at any time without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
The Best Rate Line of Credit features variable rates based on the Prime Rate (as published in The Wall Street Journal) which, as of 5/2/08, range from 4.49% APR (4.74% APR in CO, 4.54% APR in NV, 4.23% APR in FL and MD, and 3.98% APR in NY) to 7.00% APR for line amounts of $50,000 up to $500,000. In CT, DE, IL, MA, MI, PA, and RI, our best rate is 3.99% APR for line amounts of $150,000 or greater. In AZ, CA, GA, NJ, OH, OR, UT, and WA our best rate is 4.24% APR for line amounts of $100,000 or greater ($150,000 or greater in AZ, GA, and NJ, and $250,000 or greater in CA, OR, and WA). In CO our best rate is 4.49% APR for line amounts of $100,000 or greater. Advertised rates include a .25% rate discount for home equity lines secured by AZ, CO, CT, IL, IN, KY, LA, MI, NJ, NY, OH, OK, TX, UT, WV, or WI collateral. Rate discount requires a new or existing Chase personal checking account, and is good only on new home equity lines. Rate discount cannot be combined with any other offer. Lifetime APR will not exceed 21%. All stated rate ranges apply to lines secured by owner-occupied, single family (includes townhomes and rowhomes) collateral. Florida condominiums are not currently accepted as collateral. Ask us about our collateral and combined-loan-to-value (CLTV) ratio requirements to be eligible for these rates. The product requires an origination fee of $399, which may be financed (for TX homestead properties, financing of the origination fee requires that you take a minimum draw of $4,000 at closing). You may obtain advances during the first 10 years of the line (9 years and 10 months in CT) (the "Draw Period"). Depending upon your credit profile, your minimum payment during the Draw Period will be either (a) the accrued interest for each month, or (b) the greatest of the accrued interest for each month, 1% of the outstanding balance, or $100. Your payment will include principal and interest in the subsequent 20-year repayment period (20 years and 2 months in CT). While making interest-only payments, principal is not reduced. At the end of this period, even if the interest rate stays the same, your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal. The Best Rate Line of Credit may not be used to purchase the property being used as collateral, and is not available in AK, HI, or SC. Borrower is responsible for a $50 annual fee after the first year, except for TX Homestead properties. If you close your line of credit within 36 months of the date upon which it is opened, you will be required to pay an early account closure fee, equal to the lesser of 1% of the line amount, or $400 (except in FL, GA, KS, MD, MN, NC, NY, VA, TX Homestead, and Orleans Parish of LA). In AL, FL, GA, KS, the Orleans Parish of LA, MD, MN, NY, OK, TN and VA only, you will be required to pay for City/County/State Taxes and Stamps estimated to be $10-$6,650 ($375-$10,845 in NY), which may also be financed.
The No Closing Cost Line of Credit features ariable rates based on the Prime Rate (as published in The Wall Street Journal) which, as of 5/2/08, range from 4.74% APR (4.99% APR in CO and 4.79% APR in NV) to 7.25% APR for line amounts of $50,000 up to $500,000 (in NY our lowest rate is 4.49% APR, except for the five boroughs of NYC). In CT, DE, IL, MA, MI, PA, and RI our lowest rate is 4.24% APR for line amounts of $150,000 or greater. In AZ, CA, GA, NJ, OH, OR, UT, and WA our lowest rate is 4.49% APR for line amounts of $100,000 or greater ($150,000 or greater in AZ, GA, and NJ, and $250,000 or greater in CA, OR, and WA). In CO our lowest rate is 4.74% APR for line amounts of $100,000 or greater. Advertised rates include a .25% rate discount for home equity lines secured by AZ, CO, CT, IL, IN, KY, LA, MI, NJ, NY, OH, OK, TX, UT, WV, or WI collateral. Rate discount requires a new or existing Chase personal checking account, and is good only on new home equity lines. Rate discount cannot be combined with any other offer. Lifetime APR will not exceed 21%. All stated rate ranges apply to lines secured by owner-occupied, single family (includes townhomes and rowhomes) collateral. Florida condominiums are not currently accepted as collateral. Ask us about our collateral and combined-loan-to-value (CLTV) ratio requirements to be eligible for these rates. You may obtain advances during the first 10 years of the line (9 years and 10 months in CT) (the "Draw Period"). Depending upon your credit profile, your minimum payment during the Draw Period will be either (a) the accrued interest for each month, or (b) the greatest of the accrued interest for each month, 1% of the outstanding balance, or $100. Your payment will include principal and interest in the subsequent 20-year repayment period (20 years and 2 months in CT). While making interest-only payments, principal is not reduced. At the end of this period, even if the interest rate stays the same, your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal. The No Closing Cost Line of Credit may not be used to purchase the property being used as collateral, and is not available in AK, HI, or SC. Borrower is responsible for a $50 annual fee after the first year, except for TX Homestead properties. If you close your line of credit within 36 months of the date upon which it is opened, you will be required to pay an early account closure fee, equal to the lesser of 1% of the line amount, or $400 (except in NC and TX Homestead). In FL, GA, KS, MD, MN, NY, VA and Orleans Parish of LA, Chase pays your mortgage taxes for you, estimated to be $10-$6,650 ($375-$10,845 in NY). However, in these states, in addition to any account closure fee, you will also be required to repay anywhere from 50-100% of the mortgage tax amount if you close your line within the first 36 months after the date it is opened.
Lock Feature: The minimum lock term is 12 months and the minimum lock amount is $1,000. Lock amounts cannot exceed the current outstanding principal revolving balance, including any pending advances not yet posted to your account. Fixed lock rates are based upon the rate and term for a comparable Chase home equity loan. Locks are available only during the Draw Period and must mature prior to the HELOC maturity date.
Interest Only Line of Credit: Depending upon your credit profile, interest-only lines are available and provide for the payment of interest only during the draw period of your line, and payments of principal and interest during the repayment period. During the interest-only period principal is not reduced. At the end of this period, your monthly payment will increase, possibly substantially, even if the interest rate stays the same because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal.
Availability of Card Access: Chase EquilineSM Platinum Visa® card is not currently available in CT, NY, and for accounts secured with TX Homestead properties.
