YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
No points. I actually got $2700 in credits too for 2.625
Not sure what is non-refi adjustment
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
For a jumbo loan? Literally just spoke with them last Friday… I know rate dropped but not that significant.
Non refi adjustment just means changing your interest rate without refinance your whole...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I'm writing what I read in the fine print of the agreement and confirmed with the loan company who also told me the same thing.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I don't have chase but curious if I could attempt this with my lender (BoA), how would I approach it? Ask for loan modification direct or what's the secret codeword that I can start the process?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I’d find one of their mortgage folks as opposed to regular customer service. I’d just let them know you are considering refinancing with another lender but wanted to ask if they have the ability to...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Trying to figure out also. I think we need to start the refi online and then request when you speak to loan officer?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I didn't feel like telling him...lol Also the recast puts you back on your payment schedule.
Example: I'm 3 years into my 30 year mortgage, but I only have 17 years left currently. If I...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Sounds like a plan!
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
who's your lender?..... that's unheard of
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Anyone seen this with BoA?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
No, what they were doing was a loan modification that was hidden in the fine print. Loan modification will adversely impact credit.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Thanks. I know some lenders do this. I have a loan with Third federal and do this " rate relock" with them all the time. I had 5 ARM with them and I have done rate relock many times so my 5 yrs keeps...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
What wording to you use to ask about this?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Yes, BoA offers this exact rate and rate modification on jumbo loans. It'll cost approximately $900. No credit pull, no changes to your existing loan terms and eliminates the need for any of the...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
That’s a fascinating offer. Wish my lender would do that!
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
There is no reason a loan mod will adversely impact your credit if you are paying on time and as agreed. If a mod happens because someone fell behind or something, then, it is the late payments that...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
This isn't recast at all.
A mortgage recast or loan recast is when a borrower pays a large sum toward their mortgage's principal, resulting in the lender recalculating the loan based on the new...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
While this is a decent offer for Chase clients who are eligible, if you are able to move assets around there are better deals to be had with a refinance.
As an example, I have a 30 year jumbo in...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
So doing a modification of the loan instead a full refinance does that mean you don't need to go thorough the full documents and provide income statements, bank statements, DTI calculation, etc. to...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
It depends on your lender in terms of what they’ll require, IF they even do it.
But yes, if they do, generally all that changes is the rate…the other general terms of the loan don’t adjust most of...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
This is a good thread to read up on.
https://slickdeals.net/f/14173061-07-26-2021-best-mortgage-rates-from-big-reputable-lenders-and-sd-reviews-30year-2-75-15year-2-25-etc?v=1
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Is this the term to ask for ''loan modification''?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I contacted BOA for loan modification and they sent a package that requires completing Request for Mortgage Assistance (RMA) form and submit Income Documentations. It's not the single piece of paper...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Unheard of? last year VA refi rates (as one example) bottomed at 1.75 (no pts) on 30yr jumbo for well qualified. Low 2s for many months if not year. Unfortunately my note hadn't seasoned on that dip...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
https://www.chase.com/
Thought I'd give the community a heads up, while going through a refi through Chase (also my current lender), I was offered a separate program to adjust my interest rate...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I have a Chase loan and just started a Chase refi about a week back. I just got the appraisal.... would be nice if we skipped the whole underwriting process....
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Quicken loans giving 2.625% on new mortgage and 2.375 for refinance without any points
Then how chase is better ?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Read the fine print, it costs a point for that rate. Also, the deal is for a non-refi rate adjustment 😉
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Chase offered you a lower rate without refinancing so that you don’t go outside chase to explore the market. I can guarantee that you can get 2.4% rate outside chase today without any points and will...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Wrong...this isn't even close to a mortgage recast.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Which lender?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
credit ding and of course also! NO access to the 20% equity build up over last months! and also add principal paydowns! free insurance for " bank " @ these "low rates"
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I have a mortgage with Chase @ 4.65% over 30 years thats 7 years in. I plan on selling within the next 3 years so I dont want to refinance. Can I just go into Chase and ask for a lower rate without...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
Not really.... You are always paying interest on the principal borrowed with nothing stopping you from paying principal early to save interest.
ARM's can be dangerous. Should the housing market...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
OK. Recast with no APR change and No additional money to be paid for principal
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I asked them a couple of times, dummy.
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I called Chase Mortgage customer service today to inquire about this. She said my account is not eligible for this program. The accounts that are eligible are flagged in their system as eligible. I...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
How do you request this change of interest rate without refinance rewriting ?
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I didn't request anything from my current lender other than the pay off quote during the refi that was going through with better. com.
They sensed that I will be closing the loan and called me...
YMMV - Chase mortgage interest reduction without refi (Jumbo ~2.875% 30yr fixed) $995
Thread created 07-15-2021 by funkaboo
+20 Score
79 Replies
24,269 Views
I had a similar experience with Chase many years ago on an equity line of credit. I had opened the line a few years before and the spread to prime had probably gone down for most banks. Chase sent...
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