Chase Slides

7/28/2019 Chase Slides

1/42


2/42


3/42

Visit chase.com/MyNewHome/learn for online tools and resources 3

Together, well help you answer our key questions:

Am I rady buy?The rst step in buying a home is making sure you understand thehomebuying process.

Wa d I nd nw br I aly r a lan?

Feel condent that youre making the right choice.

Wa d I nd d br I sar sing r a m?

Learn what you can do to get a head start.

Wa d I d ar my r is accd?Make sure the nal stretch goes smoothly, so you get your new home withminimal stress.

Todays agenda


4/42

4

Section 1


5/42


6/42

6

Ys N N Sur

I wan a us as min wiu rsricins rma landlrd.

Renting may restrict the changes you can makesometimesyou cant even repaint the walls.

I undrsand Ill av ay r rairs and u.

I the toilet stops working in a rental, you call the landlord.When its your house, you pay or the plumber or do the workyoursel.

I undrsand Ill av ay r rry axs,insuranc, uiliis and mwnrs assciain s(i any).

Property taxes, insurance and utilities add up quickly.

I undrsand valu my us may dcras.

While your house could go up in value, it can also go down,depending on the housing market.

Iv ald an accunan r ax rssinal s

i I can bnf rm ax dducin n mrgaginrs.

Am I better o buying than renting?

There are great advantages to owning a house, nancially and emotionally. But there are also a loto responsibilities: repairs, taxes, insurance and utilities. Weighing these against the advantageshelp make the decision more clear.

CheCkpoINt: Am I better o buying than renting?


7/42


Dnding n urcas ric yu can ard, will us m yur nds basd n:

Ys N N Sur

The size o the house that amount buys(bedrooms, bathrooms, yard)?

The area o town/neighborhood?

The schools?

The commute to work?

CheCkpoINt: Will the house I can aord meetmy needs?

Does the house I can aordmeet my needs?

You need to know i you can aord to buy in the neighborhood you want, or i youre willing to makesacrices, such as having a longer commute. I you cant aord the house that meets your needs, itmay make more sense to wait beore buying.

Scin 1


8/42

8

par 1: Cas r nim s tyical rang Yur simad css

Yur dwn aymn 5% 20% o cost o house $_____________

hm araisal

A proessional analysis o themarket value o the property.

$200 $500 $_____________

hm inscinA detailed report on the conditiono the house, highlighting anysignicant problems that mightaect the propertys value.

$200 $1,000 $_____________

trmi inscin

An evaluation o pest damage.The initial inspection will be lessthan $100, although i they ndevidence o termites, which iscommon, the extermination cancost several thousand dollars.

$100 $_____________

originain s

Fees assessed by the bank tocover the processing o the loanand administrative costs.

0.5% 2% o loan amount $_____________

Clsing css

Bank ees and third-party vendorees that may include, but arenot limited to: attorney ees,settlement ees, title insurance,recording ees and appraisal ees.

2% 6% o cost o house $_____________

Mving css

The cost o moving all yoururniture and belongings.

Varies depending on how

ar youre going, how muchyou have to move, and iyou decide to hire movers

$_____________

Subal par 1: Cas r nim s $_____________

Do I understand the costo homeownership?

0.00


9/42


par 2: Cas yull nd vry mn tyical rang Yur simad css

Yur mnly rincial, inrs, axs andinsuranc aymn

Your comortablemonthly payment or

todays session$_____________

Mrgag insuranc

Insurance the lender will require i your downpayment is less than 20% o the homes value.

Typically amounts toabout one-hal o 1

percent o the loan

$_____________

Cnd/mainnanc s

These ees typically cover the cost o insurance,taxes, maintenance (i.e., lawn care) and reservesor a condominium project.

$200 $350/month $_____________

hmwnrs assciain (hoA) dus

I you choose a property in a neighborhood withan HOA, these annual or monthly ees coverneighborhood maintenance costs.

Variesask yourreal estate agent toinvestigate or you

$_____________

Uiliis and s

Regular water, gas, electricity, sewage treatmentand garbage pickup.

$100 $500/month $_____________

Lawn and rry mainnanc $100 $500/month $_____________

exrir and inrir m rairs

Depending on the age and type o your house,

there will be periodic maintenance or repairsneeded to keep your home in good condition.

$100 $500/month $_____________

Subal par 2: Cas yull nd vry mn $_____________

Ys N N Sur

CheCkpoINt: Do I understand the cost ohomeownership?

Do I understand the costo homeownership?

Scin 1

0.00


10/42

10

What are additional costsI should consider?

Majr rairs

Factor in major repairs to plumbing, roong, electrical, heating, etc. that need to be

made to your existing home beore you move. You should also include the cost o homeimprovements like renovations, landscaping, carpeting, etc. that may help sell your home.

Ral sa agn s

Real estate agent ees could range rom an average o 3% to 6%. These should also beincluded in your list o potential costs.

Mving css and rnal s

Be sure to plan or costs associated with the move to your new home. You also may haveto rent a place i you move beore you nd a new home, so consider these costs as well.

exising mrgag aymns

I you still own your existing home, the mortgage payments or both homes may be includedin the debt-to-income ratio used to qualiy you or the mortgage on your new home.


11/42


When you apply or a mortgage loan, the bank collects as much inormation about your nances aspossible and decides whether lending you money is a good risk. Banks will use your credit scoreto help evaluate whether you are likely to pay back your loan.

Crdi scrs ar calculad by s r crdi raing agncis:

Equiax www.quiax.cm

TransUnion www.ransunin.cm

Experian www.xrian.cm

To get your ree credit report, go to: AnnualCrdiRr.cm.

Do I have good credit?

Scin 1


12/42


13/42


What does my credit score mean?

A igr scrcan mean:

A br chance o getting a loanA lwr interest rate on your loan

Undrsanding yur crdi scr

Your credit score is a three-digit number that can range

rom 300 to 850. Most scores range rom 600 to 700.A higher credit score increases your chances o gettingapproved or a loan and obtaining a lower interest rate.

exclln[ Abv 720 ]

Gd[ 680 720 ]

Fair[ 620 679 ]

pr[ 580 619 ]

Vry pr[ Lss an 580 ]

Scin 1


14/42

14

pay yur bills n im

Sounds simple enough, but i you have trouble remembering this task, consider setting upemail or text payment reminders with your creditors, or automatic bill payment.

pay a las minimum n yur crdi card billPay more i you can.

k yur xising crdi card accuns wi a zr balanc nDont close these accounts. Having available credit lessens your credit risk, and closing theaccounts could decrease your score.

Crrc rrrs n yur crdi rr

Look or things like incorrectly listed late payments. Contact the three credit rating agencieslisted on page 11 i you see discrepancies.

Rduc yur dbCreate a plan to pay o your highest interest rate debts rst while maintaining minimumpayments on your other accounts. You may want to get help rom a credit counseling service.

You can nd additional inormation about how to improve your credit and maintain good credit onsites like myfc.cm and crdirr.cm.

How can I improve my score?

There is no quick x to improve your credit score, but there are several ways you can improve itover time. Here are a ew:


15/42


Yes No Not Sure

Im better o buying a new house than staying where I am.

I know what I can aord to meet my needs.

I know the cost o homeownership.

Im nancially stable.

I have good credit.

CheCkpoINt: Am I ready to buy?

Summary:Are you ready to buy?Now that youve gone through each section, consider whether youre ready to buy. I you dontthink you are, think about what steps you need to take rom here.

Scin 1


16/42

16

Section 2


17/42


18/42

18

The amount you can afford to pay for a home will depend on how much you are qualied to

borrowwhich is based on:

Credit

Yur aymn isry/crdi scrThe higher your credit score the better chanceyou have o getting a loan and obtaining a lower interest rate.

Capacity

Yur abiliy ayThe portion o your monthly income that will be devoted toyour house payment and other debt.

Collateral

t mar valu yur mYour new home will be valued based on an

appraisal.

How much home can I aord?


19/42


purcas pric hm 10% Dwn paymn Lan AmunMnly princial,Inrs, taxs &

Insuranc paymn*

$100,000 $10,000 $90,000 $731

$150,000 $15,000 $135,000 $1,096

$200,000 $20,000 $180,000 $1,462

$250,000 $25,000 $225,000 $1,827

$300,000 $30,000 $270,000 $2,193

$400,000 $40,000 $360,000 $2,923

$500,000 $50,000 $450,000 $3,656

* The chart estimates the monthly principal, interest, property taxes and insurance (homeowners and Private MortgageInsurance) payments assuming a 10% down payment and a 30-year xed-rate mortgage at 5%.

Your comortable home purchase price: $ ______________

Your comortable monthly payment: $______________

Lets get a general idea o ahome price and monthly payment.


Lets use this chart to nd the price o the house and monthly payment you think you cancomortably aord. TIP: Find the monthly payment amount thats closest to your current housing payment.

Debt:

36%

EverythingElse:

33%

Taxes:

31%

Debt:

36%

EverythingElse:

33%

Taxes:

31%

Rul umb r wa yu can ardYoull hear dierent advice on what you can aord to borrow depending onwho you ask, but a good rule o thumb is to keep to these limits:

36% gs ay dbs.Banks generally advise that your mortgage payment not be more than 28%o your gross monthly income, leaving 8% or other debts like a car loan.

31% yur incm gs ward axs.Thats the national average.

33% gs ward vrying lsood, clothes, entertainment, vacations, as well as savings and investments that youput away or a rainy day.

Scin 2


20/42

20


Lets determine how much you can spend on housing based on some common guidelines:

Enter your monthly gross income

(beore taxes)$_____________

Multiply your monthly gross income x .36 $_____________ =

Common guideline or themaximum mnly dbyou should have, includingyour new mortgagepayment

Multiply your monthly gross income x .28 $_____________ =

Common guideline orthe maximum mnlymrgag db you

should have

eXAMpLe (Using a gross income o $36,000/yr)

Enter your monthly gross income(beore taxes)

$3,000

Multiply your monthly gross income x .36 $1,080

Multiply your monthly gross income x .28 $840

Rule o Thumb: 36% o income should go to pay debt with no more than 28% going to your mortgage payment.

Youllalsowanttoconsiderhowmuchofyourmonthlyincomeyouarecomfortabledevotingtoyourhouse

payment and how much youll have let over ater purchasing your home.

0.00

0.00

0.00


21/42


A down payment is the money you pay toward the cost o the house when you rst buy it. Youborrow the rest rom the bank as a mortgage. The day ater you close on your house, your downpayment becomes the equity you have in your home.

How much do I needor a down payment?

Yu av svral dwn aymn ins. Sm ins includ:

20%: One o the more conservative options banks may use; equals 20% o thehome purchase price.

3.5%5%: May be available or some government loans (FHA1) and some conventional loans.

0%: Some types o loans, including VA, may not require a down payment.

Yur ssibl dwn aymnins includ:

Yur m ricr days sssin

prcndwn

Yur dwnaymn

Option #1: 20% $_____________ x 20% $_____________

Option #2: 10% $_____________ x 10% $_____________

Option #3: 5% $_____________ x 5.0% $_____________

Option #4: 3.5% $_____________ x 3.5% $_____________

Option #5: 0% $_____________ $0 $_____________

CheCkpoINt: How much will my down payment be? $_____________

1 FHA loans also include mortgage insurance called Up-Front Mortgage Insurance Premiums (UFMIP)

Scin 2

0.00

0.00

0.00

0.00

0.00


22/42

22

I youre like most people, the down payment on your house will likely be one o the biggestcash investments that youll make. There are a number o ways that you can get that amounto cash together.

SavingsBuyers oten save regularly or years by reducing expenses, taking a second job or getting asmaller apartment i they are renting.

GiI you accept a cash git, youll need to get it clearly in writing that the person making the git hasno nancial interest in or obligation toward the property. A bank will not accept it i your git isreally a loan.

prcds rm sal xising mI you sell your home beore you buy your next home, you may have proceeds rom that sale thatcan be applied to the down payment on your new home.

Scial rgramsState and local governments oer down payment assistance to low- and moderate-incomehomebuyers. Many nonprot organizations also oer down payment assistance. Contact yourbank or your state housing authority or inormation on these programs.

Where can I get a down payment?

Savings $

Gits $

Proceeds rom

existing home sale $

Other $

CheCkpoINt: Where will my down payment come rom? tal $ 0.00


23/42


Fixd-ra mrgag You pay the same interest rate the entire length o the loanthis means the same principal

and interest payment every month and no worrying about increasing interest rates

Interest rates are slightly higher

Maximizes security since payment doesnt change

Best i you plan to stay in your home at least seven years

Usually available in 15- and 30-year time periods

A gd Mrgag Banr will clarly xlain bnfs ac y and l yu

drmin wic is bs r yu. hr ar a w igligs:

Lets look at the dierences between ARMsand fxed-rate loans.

Should I choose a fxed-rate mortgage oran adjustable-rate mortgage (ARM)?

Scin 2


24/42

24

Adjusabl-ra mrgag Ater an initial period during which the interest rate stays the same, the rate will increase

or decrease with changes in the market

Interest rates may be slightly lower during the initial period, then they change

Maximizes buying power and fexibility

Your monthly payment can go up or down once the initial xed-rate period ends

Best or buyers who know theyll sell in 510 years

Usually available in 5-year, 7-year, and 10-year xed-rate periods

Fixed-rate ARM Not Sure

CheCkpoINt: Is a xed-rate or ARM better or me?

Should I choose a fxed-rate mortgage oran adjustable-rate mortgage (ARM)?


25/42

25

Yes No Not Sure

I know how much home I can aord.

I know how much my down payment will be.

I know where my down payment will be coming rom.

I know i Ill likely have to pay Private Mortgage Insurance (PMI).

I understand the dierence between a xed-rate loan and an ARM.

CheCkpoINt: Do I eel comortable with the loan basics?

Summary: Do you eel comortable withwhat to do beore you apply or a loan?


26/42


Section 3

What do I need to do beore


27/42

27

I know whatpaperwork Iwill need.

I know howmuch I canborrow.

I youre ready to start shopping ora home, you should be able to say:

I know how tofnd the right realestate agent.

I know howto prequaliyor a loan.


28/42


What documents will I need to applyor a loan?

One o the keys to a smooth mortgage application process is being organized. Variousdocuments are needed or you and your lender to determine that you are nancially readyor homeownership. The ultimate goal is sustainable homeownership. We have provideda list o documents you and your co-borrowers may need to complete your mortgageapplication.


29/42

29

Enjoy a smoother closing by gathering your paperwork beorehand.

Here is a list o important documents well need rom you and any co-borrowers to get started. We mayneed additional documents later in the process. I so, well let you know.

Yur ms rcn n mnsay sub(s)

ta mans: IF YoU Get pAID YoU NeeD to SeND

Every week Your last our pay stubsEvery two weeks Your last three pay stubsMonthly Your last pay stub Your pay stub(s) cannot be more than one month old at the time you submit your application.

Yur ms rcn w yars yur Frm W-2 rm yur mlyr

Your W-2 is given to you every year by your employer so you can do your taxes. A copy o your W-2 should be attached to your tax return, so you should be able to nd it there. I you led electronically, you or your tax preparer should have a copy o your W-2.Yur ms rcn r mns ban and invsmn samns Be sure to copy all pages o your statements (ront and back). I you dont receive paper statements, please print

your entire online statement. Dont orget to include all o your accounts (checking, savings and investments). Your accounts must show that youhave enough money to aord your down payment and several mortgage payments.

You will need to provide a detailed letter to explain any large deposits or withdrawals. Dubl cc! Are the three months o statements your most recent?A cmld and signd Frm 4506-t r 4506t-eZ Your Mortgage Banker will give you this orm. (It gives us authorization to access your tax return.)Yur m urcas cnrac signd by yu and sllr (n ndd i rfnancing)

Addiinal rquird dcumns (varis by individual siuain):

Note: i yu ARe SeLF-eMpLoYeD r yu g aid any cmmissins, w als nd yur ms rcnw yars ax rurns, signd. Dont orget to include all pages and schedules. We dont need copies o your state returns. I you own a business, well also need the most recent two years o personal tax returns and any business returns

you led or your company (e.g., 1120, 1120S, Schedule K-1 / 1065). I you led electronically, you can print a copy rom your tax sotware or ask your tax preparer. Dubl cc! Do all your returns have your signature? Have you included two years?


30/42

30

Ys N N Sur

CheCkpoINt: Do I know how much I am qualied toborrow?

Find u w muc yu ar qualifd brrw.

Get prequalied i you are thinking about buying a home and want to get an estimate o yourhomebuying budget.

Shop with condence when you are ready to buy a new home. Start with HomebuyerAdvantageSM to demonstrate to the seller and the real estate agent that you are a serious andprepared buyer.

Prequalifcation We will ask or basic nancial inormation (income, debt, savings and assets) and may alsocheck your credit.

You will receive a prequalication letter that summarizes your homebuying budget.

Note: The prequalication letter is not a loan agreement. Its simply an estimate o how much you can borrow based on

the inormation you provided.

Homebuyer AdvantageSM We will review your income, assets and credit history up ront to save time at closing. You will receive a Conditional Approval Letter to share with the seller and real estate agentto demonstrate you are a serious and prepared buyer. Ater you have made an oer on a home, we typically need just the purchase contract and

appraisal to nalize the paperwork.


31/42


A gd ral sa agn is yur arnr in mbuying rcss. Yu may bwring wi m r svral mns s is imran fnd smn wi wmyur ally cmrabl.

Ask your Mortgage Banker, riends or amily to recommend agents. Personally interview each agent to make sure its a good/appropriate/comortable t. As a buyer, you dont pay any commission (the seller pays it), so its in your best interest to

nd an agent you trust beore you start looking.

Undrsand dirnc bwn agns:

A Buyers Agent works or YOU to help you buy the right house at the lowest price. A Sellers Agent (or Listing Agent) works or the SELLER and helps the seller get the

highest price and best terms or them.

How do I fnd the right realestate agent?

Scin 3


32/42

32

Yes No Not Sure

I know what paperwork I will need.

I know how to prequaliy or a loan.

I know how much I can borrow.

I know how to nd the right real estate agent.

CheCkpoINt: I eel comortable starting the process to nd andnance my new home.

Summary: Do you eel comortable withstarting the process to fnd and fnance your

new home?


33/42


34/42


I your oer is accepted, you should beable to say:

I know whatto do while myapplication isbeing reviewed.

I know how tocomplete myloan application.

I know what todo at closing.

Scin 4


35/42

35

Once my oer is accepted,what do I do next?

S 1:Yull wr clsly wi yur Mrgag Banr cml yur alicain.

I you did not provide verication o your income and assets in the prequalication or conditionalapproval process, you will need to provide those documents now along with an executedpurchase contract.

I you already provided income and asset documentation, you will just need to provide a signedpurchase contract.

IMPORTANT: Your loan will be delayed i you dont submit the correct nancial documents,such as copies o your pay stubs, bank statements and tax returns.

Your Mortgage Banker may ask you i you want to lock in your rate.


36/42


Once my oer is accepted,what do I do next?

S 2: Yur Mrgag Banr will submi yur alicain and fnancial inrmain aLan prcssr w will a an vn clsr l a yur fnancial inrmain.

Your Loan Processor will contact you directly i they need any additional inormation.Be sure to reply quickly.

During is rid:

Yu will:

obain a mwnrs insuranc quAll lenders will require that you buy homeownersinsurance, which covers the cost o repairing or rebuilding the house in case o damage orcatastrophe. Contact an insurance company to determine what inormation they will need to insurethe home and obtain an estimate o its costs. Proo o adequate insurance coverage (hazard andmaybe food) will be needed beore your loan can close.

Yur lndr will:

Scdul a m araisalYour lender will generally require a home appraisal. During thisprocess, the lender hires an Appraisal Management Company to estimate the homes value usinginormation about the condition o the home and the values o comparable properties nearby. As

long as the appraised value supports the loan you have requested and there are no signicantrepairs to be made, it shouldnt hold up the loan.

ordr il insurancYour bank will require that you get lenders title insurance, which protectsthe bank in case someone else turns out to have a legitimate claim to the property, or i there areother deects, liens or claims against the property. For a small amount extra, you can also have asecond policy which insures you against the same thing.

Yur ral sa agn will:

Scdul a m inscinA home inspection will reveal whether there are any signicantdeects in the construction o the house or any major repairs required. The bank may require this,but i not, you may want to make it a condition o your oer so youll know what youre getting into.

Scdul a s inscinSeparate rom the home inspection, a pest inspector needsto evaluate the level o damage caused by termites and other organisms, such as mold. I theinspector nds a signicant inestation, they could recommend extermination, which can be anadded expense. You can negotiate with the seller about who will cover that cost.

Scin 4


37/42

37

Yes No Not Sure

CheCkpoINt: Do I eel comortable with the steps Ineed to take ater my oer is accepted?

S 3: Dnding un wa dcumnain yu rvidd during rqualifcain r cndiinal arval rcss, yur Lan prcssr will

snd all yur inrmain an Undrwrir w will rviw i all and maa fnal dcisin n yur lan.

I your loan is approved, your Loan Processor will schedule your closing.

Closing reers to the actual transer o the title o the house rom the seller,to you, the buyer. It can also be called settlement.

What it costs: A Gd Fai esima will be mailed to you within three business days oapplication.

A day beore your closing, youll receive an itemized list o exact costs.

IMPORTANT: Your itemized list o exact costs should only vary slightly rom youroriginal Good Faith Estimate. Talk to your Mortgage Banker immediately i there are chargesyou did not expect.

Youll likely need to wire unds or bring cashiers checks or bank checks to pay orthe charges due at closing.

S 4: And clsing and g ys yur nw m!

L us nw yur clsing da and wll discuss wa is ncssary m i.

(depending on how quickly you submit your nancial inormation and obtain an insurance quote).


38/42


Ys N N Sur

I know how to complete the application process.

I know how to obtain a homeowners insurance quote.

I know how to decide i I should lock in my interest rate.

I know what to expect at closing.

CheCkpoINt: Do I eel ready to apply or my loan?

Summary: Do you know what to do ateryour oer is accepted?


39/42

39

Find u abu all savings runiis and xclusiv rsurcs a nwCas mrgag as r.

Mortgage Cash BackSave thousands with Mortgage Cash Back

tr ar usands rasns g yur mrgag wi Cas. tusands dllars, a is.

Have your new mortgage payment automatically deducted rom a Chase personal checking

account and get cash back, up to $500 annually or the lie o the program.Take the cash at the end o the year, or pay down your principal to save even more.

The choice on how to save thousands is up to you.

Union Plus Mortgage ProgramProviding exclusive benefts to union members and their amilies

Unin plus and Cas r svral advanags, including n-n-n srvic

and a cmmimn rviding an usanding mrgag xrinc.par a cmmimn is a wid rang uniqu rgrams suc as Uninplus Mrgag prgram, wic can l aciv and rird unin mmbrs,ir arns and cildrn g mrgag y nd and includs bnfs

suc as:

Applying Union Plus to any o our loan typeschoose rom conventional,FHA and VA loans

Saving $495 on closing costs

Interest-ree payment assistance loans and grants to help make mortgage payments in theevent o unemployment, disability, union-approved strike or lockout (available ater only oneyear in the program)


40/42


Military Mortgage ProgramOering mortgage benefts and support to the military

t Cas Miliary Mrgag prgram was crad m uniqumrgag nds vrans, miliary srvicmmbrs and mmbrs Guard and Rsrv. W r bnfs suc as:

$495 savings on closing costs

Veterans Administration (VA) loans that may oer no down payment and no monthlymortgage insurance (MI), i eligible

Financial Assistance ProgramHelping to fnd a home that fts your budget

our fnancial assisanc rgram rvids uniqu bnfs mbuyrs wm ur lw--mdra incm rgram criria:

Up to $1,500 to use or their closing costs, down payment* or interest rate reduction(or qualied buyers)

Assistance rom a Chase Mortgage Banker who can determine eligibility and the bestmortgage solution or their new home purchase

Homebuyer AdvantageSM ProgramStart with an advantage. Shop with confdence. Save time at closing

t Cas hmbuyr AdvanagSM prgram rvids cnfdnc nwing wa yu can cmrably ard and a ad sar br sing ra m.

We will review your income, assets and credit history up ront to save time at closing

You will receive a Conditional Approval Letter to share with the seller and real estate agentto demonstrate you are a serious and prepared buyer

Ater you have made an oer on a home, we typically need just the purchase contract andappraisal to nalize the paperwork

Scin 4


41/42

41

For the Adjustable-Rate Mortgage (ARM) product, interest is fxed or a set period o time, and adjusts periodically thereater. At the end o the fxed-rate period, the interest andpayments may increase. The APR may increase ater the loan consummation.

1% Mortgage Cash Back: With the patent pending 1% Mortgage Cash BackSM program, customers can earn up to 1% cash back on their mortgage. This oer is onlyavailable or new, residential frst mortgage purchase and refnance loans submitted directly to Chase. The 1% cash back award is calculated on customers scheduledmonthly principal and interest payments on mortgages applied or and closed only with Chase. The award does not apply to extra principal payments or to payments orescrowed items such as taxes and insurance. Customers must enroll in the 1% Mortgage Cash Back program online at chase.com within 60 days o closing. Customerswithout access to chase.com should contact their Mortgage Banker within 60 days o their closing or enrollment help.

Awards will be paid approx imately 2 weeks ater the anniversary o a customers closing date. Customers can choose to have the award paid by direct deposit in to a Chasepersonal checking account or applied to their outstanding principal balance. Customers must choose how they want to receive their 1% award when they enroll. Customerscan change how they want to receive their award at any time on chase.com or by calling the Customer Service Center at the number listed on their mortgage statement.

To be eligible, a customer must: (1) Have or open a Chase personal checking account within 60 days o their loan closing, and (2) Enroll in Chases automatic mortgagepayment service within 60 days o loan closing. With this service, their mortgage payment will be automatically deducted rom their Chase personal checking account.Payments must go directly rom a Chase personal checking account to the Chase mortgage and not be managed by third parties. Upon the customers enrollment, Chase willreview the account to ensure the eligibility criteria are met. I or any reason the account does not meet the above criteria, Chase will cancel the enrollment in the MortgageCash Back program.

This oer is not transerable, is limited to one per customer at any given time, and may be discontinued at any time without notice. Geographic and other restrictions andlimitations may apply. Loans where servicing is not retained by Chase are excluded. There is a $500 calendar year cap on the principal reduction or cash back amount. The 1%Mortgage Cash Back may result in taxable income to the customer. We encourage customers to consult with personal tax advisors. For ull program terms and conditions, visitus at chase.com/MortgageCashBack.

Union Plus is a registered trademark o Union Privilege. This program is only available to bona fde members o participating unions, their parents and children. Eligibility

or mortgage assistance begins one year ater closing on a Union Plus Mortgage through Chase. For inormation regarding mortgage assistance, visit www.unionplus.org orcontact Union Privilege directly.

Borrowers must identiy themselves as veterans or members o the U.S. military. Documentation o service may be required to receive Chase Military Mortgage Programbenefts. Restrictions and limitations apply.

*Low-to-Moderate Income (LMI) Subsidy is available on purchases only. Not available in all areas. Contact a Chase Mortgage Banker or details, and to determine eligibility.

For down payments less than 20% on conventional loans, Mortgage Insurance (MI) may be required and MI charges may apply.

All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are availablein all states or or all amounts. Other restrictions and limitations apply.

Home lending and deposit products oered by JPMorgan Chase Bank, N.A. Member FDIC.

2012 JPMorgan Chase & Co.


42/42

Documents

Chase Slides