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$1,000 Closing Guarantee1Same page link to footnote 1
Chase is committed to making the purchase of your new home as easy as possible, with an on-time closing guarantee of $1,000 for Chase customers. If we don't close on the date promised, you will receive $1,000 cash back.1Same page link to footnote 1
Mortgage Rate Program2Same page link to footnote 2
Enjoy our discounted rate when you purchase or refinance a home with the Chase Private Client Mortgage Rate Program (based on your total qualifying Chase deposits and J.P. Morgan investments).
Low down payment options3Same page link to footnote 3
DreaMaker
- As low as 3% down, which can be entirely from gift funds
- Reduced mortgage insurance
Federal Housing Administration (FHA)
- As low as 3.5% down, which can be entirely from gift funds
- Flexible credit guidelines
- No income limits
Veterans Affairs (VA)
- Zero down payment option
- Flexible guidelines on use of gift funds and credit history
- No Monthly insurance (MI) required
- No income limits
Footnote 1Closing Guarantee
The Chase Closing Guarantee offers assurance to customers purchasing a home with a Chase mortgage that the loan will close on or before the CONTRACT CLOSING DATE, or the customer will receive $1,000 cash back.
Eligibility: To be eligible for the Chase Closing Guarantee, the Customer must (1) Have a Chase product relationship (other than the mortgage being applied for) at the time of closing. A Chase product means a Mortgage Loan, Home Equity Line of Credit, Credit Card, Auto finance loan, and Checking and/or Savings account. (2) Complete a mortgage application online, by telephone or face-to-face. (3) Provide all requested supporting documentation including Income/Asset documents needed to make a loan decision and signed disclosures. (4) Provide a fully-executed purchase contract which must include all pages, addendums, and required signatures.
Closing Date: Contract closing date must be at least 21 calendar days after receipt of a completed mortgage application, supporting documents, and a fully-executed purchase contract.
This offer is only available for new, residential first-lien loan applications submitted directly to Chase. Purchase applications with a property address received on or after February 4, 2019 are eligible for the Chase Closing Guarantee.
For any property that receives an initial appraisal subject to repairs/completion, a final inspection will be required. Chase guarantees closing within 3 business days of receipt of a satisfactory final inspection.
The $1,000 cash back will be paid in the form of a check post-closing.
The Chase Closing Guarantee will not apply in any of the following cases: (1) Changes to the original closing date documented in the purchase agreement, (2) Changes in loan amount, product, or terms requested within 10 days of closing. (3) closing date extensions due to a delay in completion of new construction, improvements, or repairs being made to the subject property, (4) failure by either party to meet contract terms and requirements including seller related delays, (5) Transactions involving Co-ops, CEMAs, or requiring two (2) or more appraisals, (6) Delays due to force majeure events including weather, or natural disaster, (7) Chase Corporate Relocation Programs, VA and FHA loans, (8) Delays caused by 3rd parties other than Chase required service providers, (9) Delays due to customer's failure to respond to Chase requests within 2 business days.
Chase reserves the right to amend, terminate, or withdraw the Chase Closing Guarantee at any time without prior notice.
Credit Card Point awards, grants, cash back, closing guarantees and other awards ("awards") transferred to you under the terms of the Program will be considered by Chase a discount of underwriting fees paid at mortgage closing. Any awards transferred at or outside closing in excess of the value of the underwriting fees may be considered miscellaneous income received from Chase and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Income) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which you participate and are awarded the benefits of the program. You are responsible for any tax liability related to participating in the program. Please consult your tax advisor if you have any questions about your personal tax situation.
Footnote 2The Chase Private Client Mortgage Rate Program offers Chase Private Clients rate discounts of 0.125% for total deposits and investments in personal accounts of $250,000 – $999,999 or 0.25% for $1,000,000+ for purchase and refinance transactions. These discounts apply to the full spectrum of residential mortgage types, including fixed- and adjustable-rate products for jumbo and conforming mortgages. For fixed-rate mortgages the Private Client Mortgage Rate Program discount is for the life of the loan and until the first adjustment on adjustable-rate mortgages (ARM).
For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase. The APR may increase after the loan consummation. The mortgage rate disclosed at the time of the application will be based on current eligible banking and investment balances held by the customer(s) at JPMorgan Chase excluding any funds associated with the mortgage, such as down payment or closing costs.
JPMorgan Chase does not require that customers structure or hold their balances in any particular type of account in order to qualify for a loan or the Private Client Mortgage Rate Program, nor does JPMorgan Chase require customers to purchase any nontraditional banking products or services (such as brokerage accounts) from affiliates like J.P. Morgan Securities LLC. Personal banking and investment balances will be used to determine the appropriate mortgage rate discounts. Business accounts do not qualify for mortgage rate discounts.
"Chase Private Client" is the brand name for a product and service offering.
Footnote 3A 3% down payment on a 30-year, fixed-rate loan of $153,158 with an interest rate of 4.625% / 4.693% APR will have 360 monthly principal and interest payments of $787.45. Payments shown do not include taxes and insurance. Actual payments will be higher. This is assuming a New Jersey purchase transaction, 45-day lock, 97% LTV, 720 FICO, detached single family, owner-occupied, closest to zero points, rates change daily.
FHA loans require an up-front mortgage insurance premium (UFMIP) which may be financed‚ or paid at closing and monthly premiums will apply.
For down payments less than 20% on conventional loans, Mortgage Insurance (MI) may be required and MI charges may apply.
A 3.5% down payment on a 30-year, fixed-rate loan of $153,158 with an interest rate of 5.125% / 5.195% APR will have 360 monthly principal and interest payments of $833.93. Payments shown do not include taxes and insurance. Actual payments will be higher. This is assuming a New Jersey purchase transaction, 45-day lock, 96.5% LTV, 720 FICO, detached single family, owner-occupied, closest to zero points, rates change daily.
Results of the mortgage affordability estimate/prequalification are guidelines; the estimate is not an application for credit and results do not guarantee loan approval or denial.
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
Home lending products offered by JPMorgan Chase Bank, N.A.
© 2020 JPMorgan Chase & Co.