Chase expands benefits to military servicemembers and veterans MortgagePress.comChase, U.S. military, Home Connect, National Guard
Chase has expanded its slate of benefits to home sellers and
buyers who are serving or have served in the U.S. military.
Through the new Home Connect real estate assistance program from
Chase, servicemembers and veterans can now receive up to $2,500
cash back on a home sale and up to $2,500 on a home purchase by
using a Home Connect preferred real estate agent. The cash back
rises from $175 on a home under $75,000 to $2,500 on a $625,000
home and is available in most, but not all, states.
Servicemembers and veterans only need to call (800) 463-3992 to
be referred to a Home Connect Preferred Agent in their area. Home
Connect is offered in conjunction with Cartus and its network of
licensed real estate brokers and there is no cost to participate in
the program. Cartus is a subsidiary of Realogy Corporation whose
franchises include CENTURY 21, Coldwell Banker, and ERA.
The Home Connect cash-back bonus is in addition to the other
existing and exclusive benefits of the Military Mortgage Program
including a closing cost discount and payment deferral benefit for
eligible National Guard and Reserve servicemembers. Over the past
year, nearly 700 military servicemembers have financed their homes
through the program.
"We are proud to offer financial rewards to the men and women
who serve or have served our country," said Pablo Sanchez, home
lending senior executive at Chase. "Chase is an official partner in
the Consumer Federation of Americas Military Saves initiative,
which helps military members and their loved ones build savings for
their immediate and long-term financial needs."
Other benefits of the Chase Military Mortgage Program
include:
• A closing cost discount of up to $500
• Full access to the full range of Chase fixed-rate and
adjustable-rate mortgages
• Consistency of service, with Chase's commitment to
continue servicing the loans
• The program is available for vacation homes and investment
properties as well as primary homes
• The choice to defer part or all of the mortgage payments
during state (title 10) or federal (title 32) mobilization lasting
30 consecutive days or longer, with: No late payment fees and no
negative credit report sent to credit bureaus
To take advantage of the payment deferral benefit, borrowers
must:
• Notify Chase when they receive their mobilization
order;
• Be in good standing on their existing mortgage, with no
payments more than 30 days late in the past 12 months (or life of
loan, if less than 12 months);
• Remain current on all other loans and lines of credit;
and
• Have qualified and closed on the mortgage under civilian
income.
When servicemembers are demobilized, the program offers many
different options, including doubling up on the payment, modifying
the loan to stretch out the payments, and refinancing the loan at
the current market rate.
For more information, please visit www.chasemilitaryhomeloan.com.
