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When we think of a mortgage loan, the first thing that comes to mind is the purchase of a home, whether new or used, but mortgage loans can also be used to finance the construction of it, its renovation or to improve your current mortgage with better conditions.
In addition, the house can also serve as a guarantee to obtain money with more favorable conditions than with a personal loan. And for the bank, the guarantee of a property is a great advantage that greatly reduces the risk of the operation, so it can offer you lower interest and commissions, saving you a good amount.
This type of home equity loans and lines of credit allows you to have large amounts of cash that you can use for any purpose you wish. The most common is usually to pay for a home renovation, start a new business or expand your business, since these are large expenses.
However, Chase Bank does not currently offer the possibility of taking out home equity loans and lines of credit, nor does it have generic personal loans, apart from the auto loan and its My Chase Loan, for credit card holders.
With Chase Bank you can get fixed-rate and adjustable-rate mortgages, depending on your needs and whether you want more or less stability in your monthly payments, you can choose one or the other.
It also offers a specific option to refinance your current mortgage loan, if you have one, and thus obtain better conditions.
The specific interest and commissions you will have to pay will depend a lot on variables such as the state where you live, your personal and work situation, your credit score, the house you want to buy and the amount you wish to obtain.
The best thing to do is to do a simulation on the Chase Bank website to find out the conditions you will obtain in your specific case.
In any case, even if you can start the process online, there will come a time when you will have to go to a nearby Chase Bank office to continue with your mortgage process.
Español: Hipotecas de Chase Bank en español