Refinance: The amount you save on a refinanced mortgage may vary by loan. Please speak to a Chase Home Lending Advisor after you apply. Keep in mind: You may qualify for a cash-out amount higher than $500,000. A cash-out refinance may not be available in all instances or for all property types. That amount is based on your property’s appraisal value, the age of your existing first lien, any other liens on your property and our other credit criteria. The actual amount you may be able to borrow will be determined after you apply. Closing costs, unpaid taxes and escrow balances may also affect the total cash-out available at closing. This doesn’t include home equity lines of credit or other liens. It’s based on a percentage of your estimated home value minus the amount of your first mortgage. Refinance only:Ĭash-out: The available cash-out amount provided is only an estimate. The APR may increase after the loan closes. At the end of the fixed-rate period, the interest and payments may increase according to future index rates.

Please contact a Chase Home Lending Advisor for details.ĪRM: For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. For loan amounts greater than $3MM (or $2MM for investment properties), customers must meet additional post-closing asset requirements to qualify. Other restrictions and limitations may apply.Īdditional Assets: Jumbo loans available up to $9.5 million. If required, you must have enough money set aside after closing to make up to 30 consecutive monthly mortgage payments, including PITIA.įor loans over $3,000,000: You're required to have liquid assets of either $1,000,000 or 30% of the loan amount, whichever is greater. Reserves: Minimum reserves of up to 30 months of principal, interest, taxes, insurance, and any additional assessments (PITIA) may be required. Loan terms may vary based on your actual credit score.

Keep in mind: A minimum credit score of 620 is needed for loan options with less than 5% down. Get an official Loan Estimate before choosing a loan.Ĭredit scores: When you pick a credit score range in 'Customize your info', we use the following score in each range to estimate your loan options: Excellent–740, Very Good–700, Good–680, Average–660, Fair–640 and Other–619. Your actual rate, payment and costs could be higher. Payments shown do not include taxes, homeowners insurance, or mortgage insurance (if applicable). APR shown includes the customer paying approximately 1 point at closing, which is generally 1% of the loan amount, and does not include other finance charges you may be required to pay. Other restrictions and limitations apply.ĪPR: APR shown is estimated as of the date you get your loan options in the calculator and may vary, as rates can change daily. Not all products are available in all states or for all amounts. Rates, program terms and conditions are subject to change without notice. All home lending products are subject to credit and property approval.

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