Chase Home Finance

With assets of $1.3 trillion, JP Morgan Chase is a leading international financial services company, operating in over fifty countries. Chase Home Finance is the domestic home loan operation of the corporation. With 2400 branches nationwide, Internet applications, and telephone representatives, Chase is accessible to its customers. Chase guarantees timely closing, or $300 if the mortgage does not close on time. Chase Home Finance offers pre-approval, so that the buyer can enter the market with confidence and negotiate the best price, knowing that financing is in place. The company also owns a portfolio of properties, helping the customer narrow down the search for a perfect home.

Loans offered by Chase Home Finance :

• Fixed rate mortgages with 15- and 30-year terms
• DreamMaker program provides subsidies for closing costs
• Programs for low-down payment options
• Adjustable rate mortgages, with a variety of time periods for variation in the rate; 1, 3, 5, 7, or 10 year terms
• Interest-only 30-year fixed; after 180 months, principle is paid along with accrued interest for the remainder of the loan
• Interest only 6/3 Prime ARM; the loan is interest-only for ten years, with the initial rate paid for the first six months, and variable every three months after that, until the 121st month, when principle is added to the accrued interest until the termination of the loan
• Interest Only 7 and 10 Year ARMs; interest rate is maintained for 7 or 10 years, adjustable after that with principle being included in monthly payments
• FHA and VA Mortgages
• Vacation and second home financing
• Construction financing
• Condos/Co-ops/PUD’s (Planned Unit Development)
• Home equity loans and lines of credit
• Chase EZ PurchaseSM line of credit, primary or secondary home collateral, up to 100% of value, interest only payment
• Chase Land Purchase LoanSM , up to five acres, 85% financing, fixed rates
• Chase Bridge-to-Purchase LoanSM , up to $500,000
• Jumbo mortgages up to $2 million

The Lending Industry Diversity Conference (LIDC) recognized Chase in 2005 for fair-lending efforts. Chase was one of five lending institutions named by LIDC. Chase has the highest closure rate on minority mortgage applications made to prime borrowers. "A higher minority origination rate suggests lower minority denial and fallout rates," the LIDC said in a National Mortgage News article.

Chase also established an Emerging Markets and Affordable Lending team in Home Mortgage in 2005. The team is cultivating strategic business partners, homebuyer education, and sourcing business from new and current industry and community partners.

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