Chase Bank (NYSE: JPM) advertises home purchase and refinance mortgage loans for interested borrowers in the United States.
Chase Bank (NYSE: JPM) advertises home purchase and refinance mortgage loans for interested borrowers in the United States. Individuals must have strong credit standing and be willing to pay 1.00% of the total loan amount in origination fees to the lender in order to secure a loan under this bank. The latest home purchase and refinance loan rates have been published for December 16, 2013. Also there were some adjustments in the loans’ annual percentage rate (APR) quotes.
This Monday, the 30-year fixed rate conventional home loan is advertised at 4.500% and bears an APR variable of 4.607%. The shorter-term 15-year fixed rate home purchase loan package can be locked in at 3.625% and carries an APR figure of 3.790%. This lender also offers adjustable rate mortgage (ARM) loans for borrowers who need more flexibility with interest rates. These loans have a fixed interest rate period, after which the mortgage rate is adjusted to reflect current market rates until the loan’s maturity.
Mortgage shoppers who are more interested in mortgage refinancing options, will find plenty of loan offers at this financial institution, including the 30-year fixed deal which is listed at 4.625% and has an APR of 4.711%. The 15-year version of this fixed refinance package could be more suitable for certain borrowers, as it starts at 3.625% and bears an APR variable of 3.808% as of December 16.
Adjustable rate mortgage (ARM) loans can also be useful for borrowers who need more flexibility with interest rates. These loans come with a fixed interest rate period, after which the mortgage rate is adjusted depending on prevailing market interest rates at the time of the reset.
Chase’s 7/1 ARM home purchase mortgage bears 3.625% in interest and an APR of 3.293% while the 5/1 version of this type of loan can be locked in at a rate of 3.250% and an effective APR variable of 3.074%.
Switching to flexible home refinancing options, Chase’s 7/1 ARM is available at a rate of 3.750%. The mortgage package carries an APR sum of 3.353%. As for the 5/1 ARM home refinance loan, interested mortgage shoppers can expect to pay a rate of 3.375%, while the APR stands at 3.128%.
The mortgage rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. Contact the loan officer in charge or check the lender’s website for more information on the latest mortgage rates.