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Chase Mortage Loan Refinancing Program

Started by NYCREBUBBLE
over 15 years ago
Posts: 68
Member since: Sep 2008
Discussion about
Just recently qualified for a chase mortgage refinancing program on a midtown east high rise condo unit. The application is in the process. Locked in a lower rate (5.375% from 5.875% at origination), changed term from 15 to 30. Most refinancing fees are waived. No check of income, or property appraisal. My DTI ratio has crept up since origination but I own several investment properties, and a decent mortgage reserve. Has anyone had any success with the loan mod program with manhattan condo units? Curious to hear some thoughts.
Response by ab_11218
over 15 years ago
Posts: 2017
Member since: May 2009

i'm dealing with chase now and when they said that they needed some documents, i was fine. i've had to provide to them so much documentation, going back 1 year, that a board package seems easier.

the buyers of my old place almost lost their 10% down payment because chase kept asking for more and more documentation. after board approval, it took 9 weeks as opposed to the standard 4.

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Response by NYCREBUBBLE
over 15 years ago
Posts: 68
Member since: Sep 2008

Are you speaking about the streamlining refinancing program or a normal refi? Thanks.

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Response by streetsmart
over 15 years ago
Posts: 883
Member since: Apr 2009

if your loan amount is for less than $417,000, then the rate should be lower. While they're not charging you a fee, in essence they are with the higher rate.

www.esfunding.instantlender.com

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