Skip to main content

Chase Enhances Its Jumbo Loan Offerings

NationalMortgageProfessional.com
Aug 05, 2015
Chase Logo

Chase has announced it is simplifying its jumbo loan product and lowering FICO and downpayment requirements for those loans. A buyer with a FICO of 680 or higher looking to purchase a single-family property can now put as little as 15 percent down. Previously, single-family homebuyers were required to have a minimum FICO of 740 with 20 percent downpayment.

“We want to make sure homebuyers can easily understand the benefits of financing with Chase,” said Steve Hemperly, head of mortgage loan originations. 

Chase rolled out easy-to-understand guidelines for primary and second-home loans, investment properties and cash-out finance loans. Part of a firm-wide simplification process, the new loan guidelines reflect Chase’s thorough analysis of market and borrower risk.

“Everyone in the homebuying process—from consumers to real estate agents and mortgage bankers—can more easily understand how we can help them close on a loan fast,” said Sean Grzebin, Chase's head of Retail Lending.

Published
Aug 05, 2015
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Tech
Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022