Chase Mortgage Reviews - What Is It?
DO NOT USE Chase Mortgage!!! You Must Read This Review!
Fully Researched: Price, User Feedback and More!
Chase Mortgage is one of the top players in the mortgage field and a part of JPMorgan Chase and Co. A lot of their customers are banking with the company. If you aren't, there are many options for you to choose when refinancing your current loan with Chase for the first time or applying for a mortgage. Chase Mortgage is perfect for borrowers who are looking for a full-service lender with individual or online service. Current customers may get fee discounts. According to the head of Chase's consumer direct channel, Lisa Foradori, when it comes to the way their customers get a mortgage, they are provided with numerous options. Lisa handles mortgage applications. She says that The Chase mortgage process usually starts over the phone, at a local branch, or online. It is associated with simplicity and wide choice. Each customer receives the information they need. The company is well-known and reputable in the country.
There are two options to start the mortgage process online. You can fill in your personal details in the form and get closer to a pre-qualification. Or you can fill in a shorter form that requires basic information. In any case, after completing the form, you will spend more time with a mortgage banker in a branch or on the phone, providing the necessary documents and answering more questions. Chase's mortgage process is similar to that found at most lenders. After submitting your application and the necessary documents, you will reach the "evaluation phase." In this process the underwriter will work with a loan processor to decide whether to approve your mortgage or not. They may need some additional information from you on this stage. Once you are approved, you get a loan. As with other lenders, the period of time it takes to close on your loan with Chase may vary a lot. In case with a purchase loan, they may focus on the date when you need to be in your home. In case of a refinance transaction, it can be less than 60 days. The company intends to make sure that they set expectations upfront.
Customer Reviews - Does Chase Mortgage Really Work?
After submitting your application, you can create an account online under My Chase Mortgage. It will allow you to track your application, submit additional documents, and get status updates during the process. You may choose not to create an account, but communicate with Chase via email or phone during the mortgage process. You may choose to work with a nearby branch. The company provides all the necessary educational materials. Foradori says that they have a lot of first-time home buyers, customers who are younger, so they try to do their best to create and update educational information they have on their official website. They have step-by-step guides, calculators, and YouTube videos with testimonials from actual customers. These materials help to teach potential clients about the process. Chase's educational materials are quite thorough online, so you may go far beyond those found on their website. You can also speak with a mortgage banker to receive details on requirements and products.
Their fixed-rate mortgage options include 10-, 15-, 20-, 25- and 30-year terms. Jumbo loans can reach $3 million. Adjustable-rate mortgages are available in 5-, 7- or 10-year terms. Their home equity line of credit features a fixed-rate option that is able to cover up to twenty years of the repayment period. You will have to use your home as collateral, so it is vital to make sure that you are taking a loan for wise reasons, like home remodeling or repairs. Chase also takes part in the Home Affordable Refinance Program. Such a loan may be suitable for those who owes more than their home is worth or are struggling to make payments. In addition to Department of Veterans Affairs and Federal Housing Administration loans, Chase Mortgage also provides two low-down-payment loans. The DreaMaker mortgage allows for 5% down for those who have a credit score of more than 620, and 3% down for customers with a score of more than 680. This loan features lower monthly payments and mortgage insurance requirements. It is available for up thirty years and can be used for buying a one- to four-unit residence. The Agency Affordable loan allows for 3% down for borrowers who have a credit score of over 680. You will have to buy mortgage insurance with this loan and there is no income limit.
There are numerous testimonials from actual clients of Chase Mortgage. They claim to be satisfied with the terms of the loans, the payment system and customer service. Chase works well to make refinancing painless and easy. You can meet your closing agent at a restaurant to complete the transaction, which is very convenient. One customer reports that his mortgage was a big amount. To be exact, $647 per month principal, taxes, interest, and insurance! He received a letter from the lender offering a refinance of his mortgage with them for two percent reduction. The man liked that the process was seamless; no monies from the refi added to his new balance and no costs out-of-pocket. At present, his monthly PITI payment is $518, and the duration of the mortgage wasn't changed. He says that the monthly outlay for his housing needs is a great improvement! His large house is a two-story dwelling with 2 1/2 baths, full length covered porch and Williamsburg style in a great subdivision. He is pleased with Chase's work. Let us take a look at some of the other customer reviews available online.
"I am pleased with Chase Mortgage, especially with their customer service reps. They explain everything clearly and offer help if you have an issue. I enjoyed working with a gentleman by the name of Kevin. He was friendly, courteous, and helpful. My loan has been with CHASE for fifteen years and my communication with Kevin was icing on the cake. I also like the fact that I can manage my account online. It is easy to look up things concerning my account too."
"I have not had any problems with my Chase Mortgage Chase in four years. Their customer service is perfect. They are serious about providing good information and proper instructions. I have always felt well treated and served. The staff always behave in a professional way without any delay. Whenever I had a question, I got an immediate answer. All the agents have been available when needed, either on the phone or at the bank. They are very courteous and understanding. Paperwork was very comprehensive too. Chase has been a great choice for us."
"There is nothing I dislike about Chase Mortgage. I have had positive experience with this company. Unlike other mortgage companies, Chase has never increased my payments. I do not regret I chose this company. I highly recommend them to my family and friends. I hope this review will help some other people to make a decision too."
My Final Summary
Taking into account everything we have learnt about Chase Mortgage, it has many advantages. It allows to submit and track documents electronically. Current Chase customers can get discounts. The company offers a wide choice of purchase and refinance mortgages. Based on many positive customer reviews, they are a great company. Their reps understand and appreciate their customers. The majority of clients have had pleasing experience. They had no difficulty receiving a mortgage loan. Chase staff treat their clients in a kind and friendly way. They are also knowledgeable and professional. They work to give you higher discount off of the cost of your payment. With all this in mind, I do recommend Chase Mortgage.
Chase Mortgage Pricing and Rates
You can take fixed rate loans and adjustable rate loans. A loan amount of $215,000 will lead you to the following monthly payments. In case with a 30-year fixed rate of 5.000% your APR will be 5.100%. You will have to pay for 359 months $1,154.17 per month. If you take a 15-year loan for a fixed rate of 4.375%, the APR will be 4.544%. You will have to pay $1,631.03 each month for 179 months.