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Chase HELOC Review 2026
Last updated on May 5, 2026
Written by
Lead Writer & Content StrategistCo-written by
Contributing EditorWritten by
Lead Writer & Content StrategistCo-written by
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Our Take
3.5
HELOCs
NerdWallet rating
The Nerdy headline:
Chase’s HELOC is geared towards borrowers who don’t need long-term access to a credit line. You must draw at least 85% of the line amount at closing, and you only have three years to redraw from the line (10 years is standard).
Jump to:Full Review
Chase: NMLS#399798
National / regional
National
Max LTV
N/A
Min. credit score
720
Loan types and products
Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA
Pros
- No annual fees.
- HELOCs are available for second homes.
- Sample HELOC rates are posted online.
Cons
- Charges origination fees up to 4.99% of the line amount (to a maximum of $1,995).
- No fixed rate repayment option.
- Short draw period of three years.
Full Review
💲Chase HELOC Rates
HELOC rates are determined by two things. The first is the prime rate, which is what banks pay to borrow from one another. The second part is a margin, which the lender calculates based on your financial qualifications (including your credit score, existing debts and income). The prime rate plus your margin equals your HELOC rate offer.
Current prime rate — last changed Dec. 2025 | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high | Projected median prime rate for 2026 |
|---|---|---|---|---|
6.75% | 6.75% | 6.75% | 7.5% | 6.4% |
👍 Reasons to get a Chase HELOC
Chase HELOC borrowers will pay no annual fees, and HELOCs are available for second homes. Borrowers can also access a wide range of options for applying and contacting customer support, including via mobile app.
» MORE: Best HELOC lenders
🤔 Reasons why Chase’s HELOC gives us pause
At least 85% of the line amount must be drawn at closing, and borrowers can only redraw from the line for three years. Chase’s HELOC has a maximum borrowing limit of $400,000, when many competing lenders we surveyed offer limits ranging between $500,000 and $1,000,000. HELOC borrowers will pay origination fees up to 4.99% of the line amount, up to a maximum of $1,995.
Chase also does not offer a fixed-rate repayment option.
📎 Ways to apply for a Chase HELOC
How to Apply | Availability |
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | ✅ |
In person 🏦 | ✅ |
You can contact Chase customer service in person or over the phone.
🛒 Alternatives to a Chase HELOC
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
If you want to limit closing costs, you could consider U.S. Bank, which does not charge an origination fee for its HELOCs.
If you want access to a variety of customer support options, Citizens Bank may be a good fit.
For borrowers who don’t want a minimum draw requirement, Bank of America is a strong option that scores highly for HELOCs overall.
A HELOC isn’t your only option
You can also explore products outside of HELOCs. Alternatives to home equity lines of credit include a home equity loan, which offers a lump sum with a fixed rate, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Chase offers cash-out refinancing.
Borrow from your home’s equity
Methodology
NerdWallet rates home equity line of credit lenders based on what matters most to borrowers: HELOC rates and fees, how much of a lender’s business is dedicated to home equity lines of credit, HELOC market share, product accessibility, borrowing flexibility and features, customer experience and rate transparency.
We review more than 40 lenders and score HELOC lenders using a weighted system that prioritizes affordability, flexibility and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, higher combined loan-to-value (CLTV) limits, flexible draw and repayment terms, fixed-rate options, faster closing times and clear, accessible rate information, along with strong customer support throughout the process.
We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.