Home Improvement Professionals & Chase
We’re here to help you and your clients.
Simplify their budget and bring your work to life
Our home lending financing options can help keep funding for renovations on track for you and your clients. Plus, our discounts could save them money—and when your clients save, they may be able to increase the size of their project with you.
Smart options
We offer flexible financing options to help your clients tap into their home’s equity and make their renovation dreams a reality. Here’s how they compare:
MORTGAGE REFINANCE WITH CASH OUT | HOME EQUITY LINE OF CREDIT |
|---|---|
When money is available | |
Lump sum at closing | For up to 10 years; use only what they need |
Monthly payment amount | |
Fixed for length of loan (Assumes a fixed-rate mortgage; Adjustable Rate Mortgages (ARMs) are different.) | Changes based on variable rate and their remaining balance |
Rate | |
Fixed on entire lump sum (Assumes a fixed-rate mortgage; Adjustable Rate Mortgages (ARMs) are different.) | Variable and fixed-rate lock options (on their outstanding balance) |
Fees | |
Standard closing costs | Low origination fee and annual fee (No additional application fees or closing costs (except for cities, countries and states that require payment of taxes and stamps)) |
Here’s an example of how a home equity line of credit can turn a $50,000 home improvement project into an affordable fixed payment:
$50,000 project
- with a 25-year term
- with a 740 credit score
- at a 5.25% fixed interest rate
= $300 monthly payment (approx.)
Payment example is for illustration purposes only. Project pricing example is based on the state of California as of November 2019. Getting a rate lock of 5.25% on a $50,000 portion of your home equity line of credit will result in monthly principal and interest payments of $300.
Does your client need advice?
We have Home Lending Advisors ready to help them choose the right financing option for their project.
Call 866-744-3526
Resources for you
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Resources for your clients
Tell your clients to visit chase.com/HomeEquity for access to these helpful planning tools.
Home improvement ideas
Your clients can get project inspiration and read about spending wisely.
Renovation estimator tool
This helps your clients calculate their home improvement costs.
Home equity line of credit FAQs
Here are some questions your clients might be asking about financing.