Does Chase Offer HELOCs? Rates, Terms, and More on Its Home Equity Line of Credit in 2026

Our take: Chase began offering HELOCs in late 2025 after a long pause. They are relatively expensive and lack flexibility. Borrowers who need more freedom with drawing funds may find better offers with other lenders.

HELOC

• Strong national bank
• Widely accessible
• Straightforward HELOC structure
• Good rates for qualifying borrowers

• Short draw period
• Large origination fee
• Limited communication

Rates (APR)	Variable rates based on Prime rate + fixed margin, vary by ZIP code
Line amounts	$25,000 – $400,000
Draw period	3 years
Repayment terms	10-year interest only payments, 20-year principal and interest payments
Availability	Lower 48 states except Texas
Minimum initial draw	85%
Fees	4.99% origination fee, mortgage recording tax in some states

Chase (JPMorgan Chase Bank), one of the largest national banks, relaunched home equity lines of credit (HELOC) in late 2025, after a pause of several years due to the COVID-19 pandemic. Chase does not currently offer lump-sum home equity loans, just HELOCs and cash-out refinance.

Chase HELOCs: What to know

Chase could be more transparent about some of the details of its HELOC program. On its website, several key borrower qualifications and underwriting standards aren’t clearly outlined. For example, the page does not specify the minimum qualifying credit score, maximum loan-to-value (LTV) ratio, or maximum debt-to-income (DTI) ratio.

It’s also unclear whether HELOCs are available for second homes or what type of property valuation is used during the approval process, such as an automated valuation model (AVM) or a full in-person appraisal.

We reached out to Chase for clarification on these points, but did not receive a clear response. As a result, borrowers may need to contact the bank directly to confirm eligibility requirements and approval criteria before applying.

Eligibility

As we’ve already mentioned, Chase doesn’t advertise cut-and-dry criteria such as the minimum credit score for HELOC applicants. Like most lenders, it will consider a combination of your credit score, home value, and income.

Basic requirements are:

• Single-family residences only
• Property insurance
• Flood insurance in certain zones

If you qualify, you may borrow up to 80% of your home’s equity.

Fees

The HELOCs come with an origination fee up to 4.99% of the total credit limit, which is significantly higher than most lenders charge (the typical amount is 0.5% to 1% of the total credit line).

Additionally, borrowers in Alabama, Florida, Georgia, Maryland, Minnesota, New York, Oklahoma, Tennessee, and Virginia will need to pay a mortgage recording tax ranging from 0.100% to 2.800% of the credit limit.

How it works

Chase structures its HELOCs differently from many other lenders. The draw period is only three years, which is much shorter than typical—most lenders advertise a 10-year, or at least a five-year, draw period.

Chase requires a minimum initial draw of 85% from the line of credit. Once the draw period ends, you have seven years of interest-only payments, i.e., a total of ten years during which you repay interest only on your HELOC. After that, you’ll have up to 20 years to repay principal and interest.

For many homeowners, the ability to draw funds as needed is the chief advantage of a HELOC over a second mortgage. Since Chase requires a high initial draw, interest begins accruing immediately, bumping up the HELOC’s cost.

Overall, this HELOC is best suited to homeowners who need most of the funds at once and are fine with only being able to redraw money for three years.

How to apply

To apply for a HELOC with Chase, you’ll first need to set up an account. You can do this online or over the phone.

Unlike many other lenders, Chase doesn’t offer a simulator that gives a quick estimate of how much you can borrow. You’ll need to talk to the bank directly.

Ratings and reviews

For a national bank operating since 1877, Chase has some shockingly poor reviews.

Platform	Rating	Number of reviews
Trustpilot	1.2/5	1,434
Better Business Bureau	1.13/5	802

Customers on TrustPilot cite a lack of transparency, poor service, and no options for online communication.

According to the Better Business Bureau, Chase has received more than 4,500 complaints over the past three years, fewer than one-third of which have been resolved.

It’s important to note that these customer reviews reflect Chase Bank on the whole, not just its HELOC product.

Pros and cons

Pros

• Strong national bank

  Chase is one of the largest banks in the U.S., with an established reputation, extensive financial resources, and a long operating history. For some borrowers, the stability and name recognition of a major national bank adds an extra layer of comfort.

• Widely accessible

  Chase has a large branch footprint across many states, along with robust online and mobile banking tools. Existing Chase customers may find it especially convenient to manage their HELOC alongside their other accounts.

• Straightforward HELOC structure

  The structure of Chase’s HELOC is relatively simple, with a defined draw period followed by a repayment period. There aren’t a lot of complex features or niche add-ons, which may appeal to borrowers who want a traditional, easy-to-understand line of credit.

• Good rates for qualifying borrowers

  Borrowers with strong credit profiles, low debt-to-income ratios, and significant home equity may be able to secure competitive rates. As with most large banks, the best pricing is typically reserved for highly qualified applicants.

Cons

• Short draw period

  Chase’s draw period is shorter than what some competitors offer. A shorter draw window gives you less time to access funds on an as-needed basis before entering the repayment phase, which could limit flexibility for long-term projects or ongoing expenses.

• Large origination fee

  The upfront origination fee may be higher than what some online lenders or credit unions charge. This can increase the overall cost of opening the line, especially if you don’t plan to borrow a substantial amount.

• Limited communication

  Some important qualification details are not clearly outlined on the website, and responses to clarification requests may be limited. This lack of transparency can make it harder for borrowers to compare options or fully understand eligibility requirements before applying.

Alternatives to consider

Chase is a conservative lender that offers a decent but unremarkable HELOC product. If you’re looking for the lowest rates and most competitive lenders, we suggest shopping around. Our best HELOCs page is a good place to start.

Figure

Figure is among the leading nationwide HELOC lenders, operating in almost every state. Its rates start at 6.65%, and it finances HELOCs up to $750,000. This no-bank digital lender boasts excellent reviews thanks to its competitive terms, robust online service, and fast approvals. Moreover, Figure HELOCs involve no closing or annual costs.

While Figure also sets a relatively short draw period (five years) for its HELOCs, it allows flexible repayment terms (five to 20 years). Figure officially accepts credit scores from 640 and up, but borrowers with scores of at least 720 are much more likely to be approved and qualify for the best rates.

FourLeaf Federal Credit Union

FourLeaf’s HELOCs come with a 10-year draw period and five-, 10-, or 20-year repayment term options. The lender offers an introductory rate of 5.99% APR on lines up to $500,000 for borrowers with VantageScore 4.0 credit score of 720 and up. After a year, the rate reverts to a variable as low as 6.75%.

FourLeaf approves line amounts of up to $1 million, which makes it a great option for homeowners who may need more funds over a longer period. Borrowers pay no closing, application, or origination fees.

LendingTree (marketplace)

LendingTree is a loan marketplace that makes it easy to compare HELOC offers in a few clicks. You submit a quick online form, and the platform matches you up with partner lenders.

Each lender will have different requirements and terms. According to LendingTree, advertised HELOC offers start with rates as low as 6.15%. Their average rate on a $100,000 HELOC was 7.75% at the end of 2025.

Recap

When you look at the current HELOC market, Chase’s offer doesn’t seem very competitive. If you prefer to use funds as needed rather than draw a large amount upfront, or need a longer draw period, you should probably check out other lenders.

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