Chase reclassifies properties of parents and children for borrowersMortgagePress.comBuying a home for a child or elderly parent
Chase has announced a new mortgage program, Chase Family
Opportunity Mortgage, specifically for borrowers that wish to buy a
home for their children attending college or elderly parents.
The program classifies the property in question as a second or
vacation home, rather than a rental home (as would normally be the
case), significantly reducing fees and interest. Certain
New York-based Chase is a home equity lender and subsidiary of
JPMorgan Chase & Company. For more information, visit www.chaseb2b.com.