U.S. financial institution, Chase Bank (NYSE: JPM), is a major mortgage lender, which provides loans for borrowers who are able to meet its credit standards.
U.S. financial institution, Chase Bank (NYSE: JPM), is a major mortgage lender, which provides loans for borrowers who are able to meet its credit standards. The bank’s updated mortgage interest rates, listed below, are valid for November 17, 2014. Bear in mind, that the annual percentage rate (APR) calculations were made using closing costs and discount points, assuming that the borrower will pay 1.00% of the total loan amount in origination fees.
As far a Monday’s home purchase mortgage rates are concerned, Chase is offering the benchmark 30-year fixed loan at a rate of 3.875%. The APR, which shows the interest and other costs of the mortgage at a yearly rate, is set at 3.989%. Individuals, who believe the 15-year fixed rate loan fits the bill better, can expect to pay 3.125% in interest. The mortgage loan’s APR is coming out 3.305%.
The 7/1 adjustable rate home loan can be obtained at 3.250% and this flexible loan features an APR variable of 3.059%. Others, who decide to secure the lender’s 5/1 ARM for home purchase, will encounter a rate of 3.000% and an APR of 2.904%.
Switching to Chase’s current refinance rates, the 30-year fixed loan package is offered at 4.125% and it carries an APR of 4.188%. The popular 15-year fixed rate refinance mortgage starts at 3.250% and the corresponding APR is set at 3.413%.
With regards to the flexible 7/1 ARM, which can be used for mortgage refinancing, is available today at a rate of 3.375% and bears 3.118% by way of APR. Another possible solution for refinancing is the 5/1 adjustable rate loan, which has a starting rate of 3.000%. The package is coupled with an APR sum of 2.924%.
The interest rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. For more details on Chase’s latest home purchase and refinance mortgage rates check the bank’s website or contact a loan officer in charge.