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Chase Bank Mortgage Rates
Current Chase Mortgage Rates
Competitive mortgage rates are offered by the bank on most of their loan terms. The following chart highlights the current mortgage rates and the APR offered by Chase Bank on $50,000 single family mortgages with a down-payment of $25,000.
|Fixed rate loans ||Rates ||Points ||APR|
|30 yr fixed ||5.000% ||1.000 ||5.691%|
|20 yr fixed ||4.750% ||1.250 ||5.710%|
|15 yr fixed ||4.500% ||1.000 ||5.670%|
|Adjustable rate loans|| || || |
|7/1 ARM ||3.875% ||1.125 ||4.062%|
|5/1 ARM ||3.750% ||1.125 ||3.908%||
Chase Bank Mortgage rates are considered as one of the lowest when compared with mortgage rates offered by several other banks and financial institutions. Chase is the consumer and commercial banking division of JP Morgan Chase & Co. The bank offers a number of mortgage programs to help those home buyers who are in financial need to purchase their dream home. Chase mortgage rates are also quite affordable for most of the home buyers as they have different rate options that suit the income status of the borrowers. On the other hand, JP Morgan Chase mortgage rates are determined by a number of factors such as:
- The monthly income status of the borrower
- Credit score of the borrower
- The amount of principle
- The type of loan term
- The rate condition (either fixed or variable)
Chase Mortgage Rates Refinance
Chase Bank offer low rate mortgage refinance programs for those homeowners who are facing financial problems in paying their monthly mortgage payments. Making late payments and mortgage defaults may lead to foreclosure of homes. The best way to avoid foreclosure is to refinance your current mortgage with a new loan term having lower rate of interest. The bank also allows borrowers to avail affordable refinance mortgage program with a minimum down payment of just 3% of the total loan amount. In order to get a low rate refinance mortgage, the bank requires the borrowers to have good credit rating, a reliable source of income a considerable equity value with their home.
Chase Mortgage Rates 30 Year Fixed
Chase Bank mortgage interest rates vary with the type of the loan term and the length of the repayment period. The interest rate will fluctuate if a borrower has taken an adjustable rate mortgage. However, with a fixed rate mortgage, the borrower will have to make a specific payment for the entire loan period. Chase Bank offer affordable interest rate with their 30 year fixed mortgage program. At present, 30 year fixed rate mortgage is available at a stunning rate of 4.875% and 4.974 APR. In fixed rate loan, the most important benefit is that the borrower does not have to worry about any sudden increase in the payment amount. Payment period and interest rates are all decided in advance before the loan amount is being awarded. However, with an adjustable rate mortgage, there may be increase or decrease in the mortgage rates depending on the prevailing market conditions.
Mortgage rates of Chase Bank may also differ depending on the states and cities from where the borrowers are applying. For instance, Chase mortgage rates in New York will vary from that of the mortgage rates in California. If you are thinking to avail a mortgage program from Chase Bank then it is very important for you to check the prevailing rates with several loan terms.