American lender, Chase Bank (NYSE: JPM) provides various mortgage loan packages for borrowers in the U.S. Potential customers must have strong credit standing and be willing to pay 1.00% of the total loan amount in origination fees to the bank in order to lock a mortgage.
American lender, Chase Bank (NYSE: JPM) provides various mortgage loan packages for borrowers in the U.S. Potential customers must have strong credit standing and be willing to pay 1.00% of the total loan amount in origination fees to the bank in order to lock a mortgage. The lender updated its mortgage information for August 23, 2014, which is discussed below.
Looking at current mortgage rates quotes, the standard 30-year fixed home purchase loan is listed at a rate of 4.000%. The annual percentage rate, which shows the interest and other costs of the mortgage at a yearly rate, is coming out at 4.115%. Borrowers, who believe the 15-year fixed rate loan fits the bill better, can expect to pay 3.250% in interest. The loan’s APR is set at 3.376%.
Besides the above mentioned mortgage loans, the lender also provides more flexible loan options for home purchase purpose. Today, the flexible 7/1 adjustable rate loan is quoted at a rate of 3.125% and the loan has an APR figure of 3.020%. As far as the 5-year ARM alternative is concerned, it can be locked in at a rate of 3.000%, whilst the annual percentage rate is set at 2.924%, the lender’s updated loan information revealed.
Shifting over to today’s mortgage refinancing options at this financial institution, the 30-year fixed home refinance loan is published at a rate of 4.125% and it bears an APR of 4.219%. The 15-year version of this fixed home refinance loan could possibly be more suitable for certain borrowers, as it features 3.375% in interest and carries an APR figure of 3.502% as of today.
Chase’s adjustable rate loans can also be used to refinance existing loans. As far as flexible refinance loans are concerned, the opening rate on the 7/1 ARM is set at 3.250% and the loan comes with an annual percentage rate of 3.069%. The 5/1 adjustable rate mortgage is another possible alternative, and now it has an asking rate of 3.125%, whilst the APR is listed at 2.948%.
For more information on Chase’s mortgage interest rates, loan assumptions and terms and conditions, please visit the bank’s website. Potential borrowers can also contact the loan officer in charge for more details on the latest mortgage rates.