Decision Making Made Easy
At Chevy Chase Bank, we want you to get the most out of your home equity. That’s why we’ve created the Home Equity Comparison Chart. Now you can simply compare the Home Equity Loan with the Home Equity Line of Credit and see which will best suit your financial goals.
| Home Equity Line of Credit | Express Line of Credit Mortgage | Home Equity Fixed Rate Loan | |
|---|---|---|---|
| Product Features: | |||
| Best for | Ongoing financing needs | 1st Lien Mortgage | One-time financing need |
| Minimum Loan Amount | $10,000 | $75,000 | $10,000 |
| Maximum Loan Amount | $800,000 | $500,000 | $800,000 |
| Maximum Term | 20 years | 20 years | 15 years |
| Tax Deductible | Generally (Consult your tax advisor) | Generally (Consult your tax advisor) | Generally (Consult your tax advisor) |
| Application Fee | None | None | None |
| Closing Costs | Optional | Optional |  |
| Closing Options | CCB Branch / Your Home | CCB Branch / Your Home | CCB Branch / Your Home |
| Flexible Payments | Interest-only payments | Interest-only payments | Fixed Amount |
| Overdraft Protection | When linked to your CCB Checking Account | When linked to your CCB Checking Account | N/A |
| Easy Access | Can be linked to CCB Check Card or ATM Card for 24/7 account information & transactions | Can be linked to CCB Check Card or ATM Card for 24/7 account information & transactions | Can be linked to CCB Check Card or ATM Card for 24/7 account information |
| Banking Package Benefits | Can be included in Platinum & Silver Packages to earn preferred rates and services | Can be included in Platinum & Silver Packages to earn preferred rates and services | Can be included in Platinum & Silver Packages to earn preferred rates and services |