Thinking about refinancing? Use your home's equity!

Save more hard-earned cash by locking in a lower rate

When rates drop, it's tempting to refinance with a traditional first mortgage loan. Keep in mind, however, that you can use your home's equity to save just as much, or perhaps even more, of your hard-earned cash.

With a Chase Home Equity Loan or Line of Credit, you can:

1. Avoid fees and closing costs. With a traditional mortgage, you'll likely pay closing costs and processing fees. This means you'll have to shoulder some large out-of-pocket expenses up-front, or pay interest if you roll your fees into the loan. With a home equity loan or line of credit, however, your closing costs will be significantly smaller. Or, with the Chase No Closing Cost option, you'll pay no closing costs.
2. Lock your rate later. With a home equity line of credit, you can convert to a fixed rate any time while you have credit line access. The Chase Fixed-Rate Lock Option allows you to lock in a low, fixed rate on all or a portion of your line balance. We offer different payment plans to fit your personal needs.
3. Use (and pay interest on) funds only as you need them. With a home equity line of credit, you'll make payments only on your outstanding balance so you could have easy access to cash for any financial goal, now and in the future.
4. Receive your funds faster. Apply Online and we'll review your application immediately. Soon you'll be ready to close. If it's convenient to you, we'll forward the closing documents to your local Chase branch. You can quickly and easily have the cash to do what you want.