Home Equity Line of Credit

Get Financial Flexibility

It's comforting to know you have the financial resources in reserve to do what you'd like.

For homeowners who want the convenience and flexibility of a line of credit, a
Chevy Chase Bank Home Equity Line of Credit (HELOC) is perfect. It provides you with the freedom to use all or part of your line at any time just by writing a check or requesting a cash advance at any local branch.

For added convenience, when you have your Home Equity Line linked to your
Chevy Chase Check or ATM Card, you can even advance funds to your checking account whenever you want — through Chevy Chase Online Banking, Telephone Banking, or any Chevy Chase Bank ATM.

Home Equity Line of Credit Benefits

A Chevy Chase Bank Home Equity Line of Credit offers these great benefits:

  • Low interest rates - Rates are well below those for other revolving accounts, like credit cards. Interest payments are usually tax deductible (consult your tax advisor). And you pay interest only when your line of credit is actually used.
  • No application fee; closing costs waived1 - Our easy application can be completed by phone, online, or at any branch.
  • Close at any Chevy Chase Bank branch location.
  • Easy to use - Drawing on your line of credit at any time is as easy as writing a check or advancing funds to your checking account through Chevy Chase Online Banking, Telephone Banking, or any Chevy Chase Bank ATM.
  • Flexible payment terms - Minimum monthly payment is interest only. Principal is repaid as you wish over the 20-year life of the credit line.
  • Banking Package benefits - Include your Home Equity Line of Credit in your Platinum Banking Package or Silver Banking Package to earn a host of free and discounted services, preferred rates, and the ultimate convenience of a consolidated monthly statement. Plus, your Home Equity Line of Credit balances can help you qualify for monthly Banking Package fee waivers.
  • Peace of mind overdraft protection - Attach your Home Equity Line of Credit to your checking account for overdraft protection, and enjoy greater peace of mind when making larger purchases. Funds, up to your available credit limit, are advanced automatically to cover checking account overdrafts or accessed easily when you write a check for an amount more than your checking account balance. The higher credit lines and lower rates that come with a Home Equity Line of Credit mean you get greater overdraft protection at a much lower cost.

For an estimate of how much you may qualify for, use our home equity calculators.

Complete an online Home Equity Line of Credit application today, call 301-987-BANK (2265) or 1-800-987-BANK (out of area), or stop by the Chevy Chase Bank branch nearest you.

1 Home Equity Line of Credit rates are variable and may vary. Rates are subject to change without notice. Variable interest rates depend on total size of credit line. All APRs are based on a Prime rate of 3.25% and are current as of 02/01/2010. Maximum possible APR is 24%. Annual Fee of $50 is charged annually after the first year, on the anniversary date of account opening. Rates subject to change. Adequate property insurance is required and if applicable, flood insurance will be required. You may be responsible for paying closing costs if you close your account within 3 years. Closing costs in the Washington, D.C. metropolitan area range from $381 to $1,470 on a $50,000 loan. Rates, closing costs and other conditions may differ outside the Washington, D.C. metropolitan area.

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