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Home Equity Loan Vs Second Mortgage Article
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Getting a Home Mortgage from Chase
from:Chase (www.chase.com) offers programs that fit specific needs whether it’s your first home, your second or a new vacation home you’ve been planning to buy. They offer several options that may just be what you’re looking for.
What loans are available for me?
ARM (Adjustable Rate Mortgage), FRM (Fixed Rate Mortgage), conforming and jumbo loans are offered, along with special mortgage programs for low-to-medium income buyers, FHA or VA loans, low downpayment option or special credit needs. An interest only mortgage is also available for an agreed-upon period.
What do I do to apply for a loan?
After identifying your needs and the price range of your choice, you will need to prepare your documents before applying for a mortgage. Here is the initial list of documents you may be asked to prepare:
- SSS number or proof of permanent residency
- Last two months’ pay slip
- Last two years’ W-2 forms
- Last 3 months’ bank statements
- Last two years Federal tax returns
- Information on your current creditors
If you have already spoken with a seller of your chosen home, a signed contract of sale may also be required.
Applications may be done privately and securely online. An interactive tool can help you look for the loan that’s best for you. You can also call any Chase Mortgage Consultant at 1-800-873-6577 or find the nearest Chase branch and speak to a Loan Officer who can walk you through the loan process.
Online applications will be reviewed by a Mortgage Consultant who will then get in touch with you to ask for the required documents and other additional supports.
What happens next?
Chase will then order your credit report, so it’s best to review it first before application. Correct any errors so delays may be avoided during processing.
Chase does not require a home inspection, but it would be good to know the true condition of your home as evaluated by a professional.
A Home Analyst will order a property appraisal, property boundary survey, title search and insurance. A Closer will prepare the closing package which will include all the fees and closing payments required from you. He might establish an escrow account to pay the necessary taxes and insurance. He will then authorize the release of the mortgage funds. A Chase representative will get in touch with you to schedule the closing.
As with any other loan, it is best to check your best option before making a commitment. Information is given free online, through the phone or from a consultant who can discuss with you if Chase can offer the best choice to meet your needs.
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Home Equity Loan Vs Second Mortgage News
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Credit card debt and other unsecured loans could cost you your home - Daily Mail
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General Electric Company Business Update Call Transcript - Seeking Alpha
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Why Wall Street Always Blows It - Atlantic Online
Why Wall Street Always Blows It Atlantic Online - One neighbor has “unlocked the value in his house” by taking out a cheap home-equity loan, and he’s using the proceeds to build a swimming pool. ... |
Paulson Bucks Paulson as His Hedge Funds Score $1 Billion Gain - Bloomberg
Paulson Bucks Paulson as His Hedge Funds Score $1 Billion Gain Bloomberg - In November, Paulson began buying bonds backed by home mortgages, according to an investor. Spokesman Armel Leslie declined to comment. ... |
Tight credit, pink slips, and bad risk - Sun newspapers
 Sun newspapers | Tight credit, pink slips, and bad risk Sun newspapers, FL - Then there was a second, for half the amount, but at a higher rate. Biff knew he would be better off consolidating both with a home-equity loan and sticking ... |
Horror at the high point - San Diego CityBEAT
 San Diego CityBEAT | Horror at the high point San Diego CityBEAT, CA - The Brownings finally managed to refinance into a fixed-rate, negative-amortization loan. Negative amortization allows the borrower to make mortgage ... |
Md. sees drop in loss of homes - Baltimore Sun
Md. sees drop in loss of homes Baltimore Sun, United States - Homeowners also will likely have trouble making monthly payments as mortgage rates begin to reset during the next couple of years on alt-A loans - the ... |
After $1tn cost of housing collapse, America is now bracing itself ... - guardian.co.uk
After $1tn cost of housing collapse, America is now bracing itself ... guardian.co.uk, UK - With recession under way, analysts fear more home loans, credit card debt and even private equity deals will go bad. "The worry is that unemployment will ... |