Chase HELOC Rates (2026): Terms, Fees, Alternatives
Key takeaways
- Chase's sample HELOC APR was 8.37% variable as of 18 Sep 2026 (Prime 7% plus margin, 18% cap).
- You must draw at least 85% of the line at closing and can redraw for only three years.
- Reviewers report an origination fee up to 4.99% capped at $1,995, a 720 minimum score, and no Texas availability.
- On $85,000 at 8.37%, interest-only payments are about $593 a month; +1 point adds about $71.
- Compare banks with no minimum draw or no origination fee before choosing.
Chase HELOC rates are variable and set as the Wall Street Journal Prime Rate plus a margin, capped at 18%. Chase's own sample was 8.37% APR as of 18 September 2026, with Prime at 7%, for a $100,000 line on an Ohio home with excellent credit. Your rate depends on credit, CLTV and location.
Chase stopped taking new HELOC applications for about five years and came back with a product that works quite differently from a classic bank HELOC: you must take at least 85% of the line at closing, you can only redraw for three years, and there's an origination fee. That design changes what the headline rate really costs you. Below are the confirmed terms with their sources and dates, a worked payment example, and the alternatives that fit borrowers Chase's product doesn't suit.
Chase HELOC rates and terms at a glance
| Term | What Chase publishes or reviewers report | Source (date) |
|---|---|---|
| Sample APR | 8.37% variable | Chase HELOC page (as of 18 Sep 2026) |
| Sample assumptions | New 30-year $100,000 HELOC, second lien, CLTV up to 55%, single-family primary residence in Ohio (ZIP 43240), excellent credit | Chase HELOC page |
| Index and cap | WSJ Prime Rate plus a fixed margin; APR will not exceed 18%; Prime stated as 7% on 18 Sep 2026 | Chase HELOC page |
| Line amount | $35,000 to $400,000 | Chase HELOC page |
| Borrow up to | 80% of the home's value | Chase HELOC page |
| Draw at closing | At least 85% of the line | Chase HELOC page |
| Access to the rest | 3 years | Chase HELOC page |
| Repayment | Option of interest-only minimum payments for the first 10 years, then 20 years to repay principal and interest | Chase HELOC page |
| Origination fee | Up to 4.99% of the line, capped at $1,995; no annual fee | NerdWallet review (updated 5 May 2026) |
| Minimum credit score | 720 | NerdWallet review (updated 5 May 2026) |
| Texas | Not offered, according to reporting on Chase's relaunch | Bankrate and American Banker coverage |
Chase says the actual APR "may vary and be higher or lower than the rate shown." Treat 8.37% as a best-case sample for a low-CLTV borrower, not a quote. To see what the same line costs at different rates, use our HELOC payment calculator to compare HELOC lenders on payment rather than headline APR.
Reading the sample: Prime plus margin
A HELOC rate has two parts: the index, which moves, and the margin, which is fixed for the life of the line. Chase's sample APR of 8.37% sat against a Prime Rate of 7% on the same date, which implies a margin of roughly 1.37 percentage points for the sample borrower: an Ohio primary home, CLTV no higher than 55% and excellent credit. That's our inference from Chase's two published numbers, not a margin Chase quotes. Borrow closer to the 80% limit, or bring a lower score, and expect a higher margin. The margin is the number to negotiate and compare, because when the Fed moves and Prime follows, every lender's index moves together while your margin stays put until the 18% cap.
Is Chase offering HELOCs again?
Yes. JPMorgan Chase paused HELOC originations in 2020 and, according to Mortgage Bankers Association NewsLink coverage in March 2025, returned to the business with an approach that departs from industry norms. By 2026 Chase's HELOC page was live with a dated sample APR and the terms in the table above. Availability can still vary by state and property, so check eligibility for your address before you rely on Chase as your main option.
How the 85% minimum draw changes the real cost
With a traditional HELOC you might open a $100,000 line and draw nothing until you need it, paying interest only on what you use. Chase's line works more like a home equity loan with a small reserve: you start paying interest on at least 85% from day one. That's fine if you need the money now (for example, to consolidate debt or pay a contractor in full) and expensive if you wanted a standby line.
| Scenario on a $100,000 Chase line | Balance | Rate | Monthly payment |
|---|---|---|---|
| Interest-only, sample rate | $85,000 (minimum draw) | 8.37% | about $592.88 |
| Interest-only, rate up 1 point | $85,000 | 9.37% | about $663.71 |
| Amortizing over 20 years, sample rate | $85,000 | 8.37% | about $730.67 |
| Amortizing over 20 years, rate up 1 point | $85,000 | 9.37% | about $785.11 |
| Origination fee on a $100,000 line | 4.99% would be $4,990, but NerdWallet reports a $1,995 cap; confirm in your Loan Estimate | ||
The rows use simple interest-only and standard amortization formulas on the full $85,000, for illustration. Because the rate is variable, every move in the prime rate flows straight into the payment; a one-point rise adds roughly $71 a month to the interest-only figure on $85,000.
Who Chase's HELOC suits, and who it doesn't
It suits a borrower with a credit score of 720 or higher, plenty of equity, a one-time need for most of the money, and an existing Chase relationship who values handling everything with one bank. Applications are taken online, by phone, in the app or in a branch, and NerdWallet notes second homes are eligible.
It is a weaker fit if you want a standby line for emergencies, if you need more than $400,000, if you need a fixed-rate option on part of the balance, if your score is below 720, or if your home is in Texas. In those cases, the HELOC alternatives below are worth pricing first.
Chase HELOC alternatives to compare
| Alternative | Why compare it with Chase | What to check |
|---|---|---|
| U.S. Bank HELOC | NerdWallet notes no origination fee on its HELOCs | Rate after any intro period, annual fee, fixed-rate lock option |
| Bank of America HELOC | NerdWallet notes no minimum draw requirement, the opposite of Chase's 85% rule | Rate discounts that require autopay or deposits |
| Citizens HELOC | NerdWallet flags it for customer support options | State availability, draw period, fees |
| Local credit unions | Often price home equity competitively for members | Membership rules, CLTV limit, closing costs |
| Home equity loan (from any lender) | If you need most of the money now, a fixed-rate lump sum may beat a variable line you must draw 85% of anyway | Fixed rate vs Chase's variable APR over the same term |
| Chase cash-out refinance | Chase offers this rather than a lump-sum home equity loan | Only sensible if the new first-mortgage rate isn't far above your current one |
We haven't listed rates for these lenders because they change daily and depend on your profile. Ask each for a written Loan Estimate on the same day so the Prime Rate is identical across quotes.
How to compare a Chase HELOC quote properly
- Get the margin, not just the APR. The margin over Prime is what stays fixed; the APR moves with Prime.
- Ask about the rate cap and floor. Chase states an 18% maximum APR. Some lenders also set a minimum rate.
- Price the fee into year one. A $1,995 origination fee on an $85,000 draw adds about 2.3% to your first-year cost.
- Model the payment after the interest-only period. Our draw period calculator shows the jump when principal kicks in.
- Check prepayment and early-closure fees. Some lenders charge if you close the line within the first few years.
- Read the federal guidance. The Consumer Financial Protection Bureau's mortgage and home equity tools explain the Loan Estimate and your rights.
What the rate does over a full draw-and-repay cycle
Because Chase's sample is built on a 30-year structure (up to 10 years of interest-only payments, then 20 years of principal and interest), the payment you see at closing is the smallest one you'll make. On the $85,000 example, moving from interest-only to amortizing at the same 8.37% lifts the payment from about $593 to about $731, a rise of roughly 23%. If Prime is higher by then, the jump is bigger. Plan your budget around the amortizing figure, and if you can afford it, pay principal during the interest-only years: every dollar repaid early cuts interest at the full variable rate and shrinks the later payment.
Using a Chase HELOC for debt or renovations
The 85% draw makes Chase's line best suited to one-time uses where you need the cash immediately: a renovation paid in a few large invoices, or paying off a set of high-rate balances. Two cautions apply. If the money pays off credit cards, the interest isn't tax-deductible, because home equity interest is deductible only when the funds buy, build or substantially improve the home; a renovation can qualify if you itemize. And for consolidation, a fixed-rate home equity loan often fits better than a variable line; our guide to using a home equity loan for debt consolidation compares both with worked numbers.
Bottom line on Chase HELOC rates
Chase's sample APR is competitive for a strong borrower, but the product's structure (85% drawn at closing, three-year access, origination fee) means the cheapest-looking rate isn't always the cheapest line. If you need most of the money immediately and have a 720+ score outside Texas, get a Chase quote. If you want a flexible standby line, compare banks without a minimum draw and credit unions first.
Rates and terms on this page are dated and sourced; they are not a Chase offer. Confirm current terms directly with Chase before applying. This is general information, not financial advice.
Frequently asked questions
What is Chase's HELOC rate right now?
Chase's sample was 8.37% variable APR as of 18 September 2026, for a $100,000 line, CLTV up to 55%, on an Ohio primary home with excellent credit. Your rate depends on your credit, equity and location.
Does Chase offer home equity lines of credit again?
Yes. Chase paused HELOC originations for about five years and returned with a new product. Its HELOC page lists lines from $35,000 to $400,000, up to 80% of the home's value.
What is the minimum draw on a Chase HELOC?
Chase requires you to take at least 85% of the line at closing. You can access the remaining credit for three years.
Does Chase charge fees on its HELOC?
NerdWallet reports an origination fee of up to 4.99% of the line, capped at $1,995, and no annual fee. Confirm fees in your Loan Estimate.
Is the Chase HELOC available in Texas?
Reporting on Chase's relaunch says the HELOC isn't offered in Texas because of the state's home equity laws. Check Chase's site for current availability.
Run your own numbers free.
Open calculatorThis article is general information, not financial, tax or legal advice. Figures are approximate and change over time — always verify with a qualified professional or the official source before making a decision.
Written and reviewed by the HELOC Payment Calculator editorial team. Facts checked against primary sources; see the reference above.