Chase Mortgage Refinance Review

#15 in Mortgage Refinance

 

JPMorgan Chase is a multinational banking and financial service based in Ney York. The company offers mortgage and mortgage refinancing services to homeowners across the country. Its mortgage refinance program makes it possible for homeowners to avail of lower mortgage rates to make their mortgage payments more affordable.  

 

Types of Home Refinancing Mortgages

  • Fixed Rate Mortgages
  • Adjustable Rate Mortgages

 

Other home loan options

  • Home equity loans
  • Mortgage refinance available for existing Chase clients

 

Qualifying for Mortgage Refinance

Mortgage refinancing at Chase may prove to be difficult for those with less than ideal credit scores.

Credit Score

620 or better

Income to Debt Ratio

50% or more

Years Employed

2 years

Loan Terms

Up to 30 years

 

Things you will need

  • Current mortgage information
  • Homeowners insurance
  • Property tax bill
  • Prior closing documents
  • Latest payroll stubs
  • W-2 forms
  • Most recent bank statements

 

Refinance Mortgage Rates

 

 

Rate

APR

Points

# of months

Rate

Amount

30 Yr. FRM

3.625%

3.727%

1.250

359

3.625%

$980.51

15 Yr. FRM

3.000%

3.180%

1.250

179

3.000%

$1,484.75

7/1 ARM

2.875%

3.088%

1.000

84

2.875%

$892.02

5/1 ARM

2.875%

3.117%

1.000

60

2.875%

$892.02

Mortgage refinancing is ideal for homeowners who are only a few years into their loan. Homeowners who have built considerable equity through the years are better off exploring different home loan options such as a home equity loan.

 

Why Mortgage Refinance at Chase

Chase makes it possible for homeowners to take advantage of lower mortgage rates with its mortgage refinancing program. The site contains mortgage tools and resources to help homeowners make informed decisions. Online prequalification streamlines the process making it possible for qualified candidates to switch to their new mortgage plan quicker. However, this may only available for those with fair credit scores or better and good debt to credit ratios.

 

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