Qualifying
buyers
—
any
customer
who
simply
qualifies
for
a
loan,
according
to
the
bank
—
can
receive
up
to
25
basis
points
off
their
interest
rate,
which
can
be
combined
with
other
discounts,
including
Chase’s
relationship
pricing.

Rates
will
vary
depending
on
buyers’
unique
situations.
The
rate
sale
can
be
combined
with
Chase’s
Relationship
Pricing
Program,
the
Lock
and
Shop
feature
and
programs
like
the
Chase
DreaMaker
loan
that
allows
qualifying
buyers
to

put
as
little
as
3%
down.

Eligible
buyers
may
also
receive
a
grant
of
up
to
$5,000
when
purchasing
in
qualifying
neighborhoods.

The
discounted
rates
are
also
lockable.
Chase’s
Homebuyer
Advantage
program
allows
buyers
to
lock
in
a
rate
with
a
one-time
option
to
lower
it
if
market
rates
drop.

The
company
also
recently
cut
rates
on

Federal
Housing
Administration
(FHA)
loans,
with
some
qualifying
borrowers
seeing
up
to
50
bps
off
their

interest
rate.

“Housing
affordability

remains
a
challenge
for
prospective
homebuyers
across
the
country,”
said
Erik
Schmitt,
Chase
Home
Lending’s
head
of
home
lending
product
and
innovation.

“We’re
offering
the
limited-time
rate
sale
to
help
ease
the

cost
of
homeownership,
particularly
for
first-time
buyers.
The
rate
sale
is
part
of
our
ongoing
efforts
to
ease
the
burden
of
homeownership
by
supporting
buyers
with
competitive
loan
options
and
grants
to
make
homeownership
more
accessible.”

Thursday’s
announcement
isn’t
Chase’s
first
discount
program
this
year.

In
February,
Chase

announced
a
limited-time
refinance
rate
discount
that
applied
to
customers
wanting
to refinance into
a
lower
interest
rate
or
reduce
their
monthly
payment,
as
well
as
those
looking
to
tap
into
their home
equity through
a
cash-out
refinance.

Schmitt
said
that
Chase
doesn’t
have
any
specific
targets
in
terms
of
the
number
of
new
mortgage
applications
or
market
share
growth
as
a
result
of
the
program.

“The
discount
is
designed
to
attract
prospective
buyers
by
offering
meaningful
rate
savings
at
a
time
when
the
housing
market
is
out
of
reach
for
many,”
he
said.
“It
supports
our
long-term
strategy
to
expand
access
to
affordable
housing
across
the
country.”