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Chase reclassifies properties of parents and children for borrowers

National Mortgage Professional
Mar 24, 2014

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 restrictions apply.

New York-based Chase is a home equity lender and subsidiary of JPMorgan Chase & Company. For more information, visit www.chaseb2b.com.

Published
Mar 24, 2014