Chase Mortgage?
Hi all. Does anyone here have recent experience with Chase’s ARM mortgage? I called their 800 number and somehow got connected to the ‘wholesale’ division. Which seems to have way better rates than the store fronts. And they charge a flat $250 fee and NO other bank/junk fees. This seems legit, but feels too good…
Hi all. Does anyone here have recent experience with Chase’s ARM mortgage? I called their 800 number and somehow got connected to the ‘wholesale’ division. Which seems to have way better rates than the store fronts. And they charge a flat $250 fee and NO other bank/junk fees. This seems legit, but feels too good to be true. Would appreciate your feedback! Thanks.
Chase is great for personal banking, but I think their mortgage division absolutrly stinks. I went to 3 branches in lower Manhattan yesterday and not 1 mortgage person was there. They drove me crazy. Needless to say I waited 2 hours in one branch and no mortgage person showed who was supposed to be the Wednesday guy at the branch. I then stomed out and called Wells Fargo and got my mortgage in 15 minutes
wholesale is for brokers only…
I HAVE SEVERAL ACCOUNTS WITH CHASE ALSO A EQUITY LOAN NEVER HAD ANY PROBLEMS…. I ALWAYS CHECK MY ACCOUNT VIA TELEPHONE.BEEN WITH CHASE FROM CHEMICAL BANK DAYS UNTIL NOW..
GO FOR IT GOOD LUCK.
I sympathize with 10:49. But as another poster points out, these horror stories can occur at any major bank, or even the financials that are elbowing their way into what have been traditionally banking services. Yeah, maybe as customers we can be more vigilant. Mostly it’s just bad luck.
I have had the same bank accounts as they morphed from Manufacturers Hanover > Chemical > Chase > JPMorganChase. Other than the time that a branch would not cash a check — I had a landlord who liked to get paid in hundreds, cause that was how he paid the oil company, etc. — I have had nothing but good service.
I’ve been with Chase since the early 90’s after their merger/takeover of Chemical Bank (remember them?). I agree with the poster that checks his accounts every morning – I do. And, if I make purchases, I check it more often.
But to answer your question, the way the markets are going, this offer might actually be real. I know from visiting my branch, that Chase is offering what looks to be great deals for several mortgage-related products. As someone else pointed out, right now an ARM might not be the lead necklace it was a few years ago.
I would say do the paperwork, get everything in writing, triple-check it, let some of your more astute financial friends/family members re-read the terms and good luck with your loan product. Oh, ANYTHING that has to do with your interest rate – if it’s a teaser, when it resets, the ceiling and what index it is tied to – hit the internet and do your homework.
If you do your research and be a sqeaky wheel, you can get a deal with Chase.
We have several savings and checking accounts with Chase, as well as two Home Equity Lines of Credit (one each on 2 different properties). They make a point of making sure you have a personal banker these days, at the branch, and mine tries to be helpful to the point where I have felt the need to apologize when I didn’t realize I was supposed to go to her and she was busy so I opened my son’s account with one of her colleagues. Our HELOC’s have been totally flawless. I have paid them off and paid them down and found the lines of credit department cust service reps very helpful when needing to deal with any and all of it. I would feel comfortable going to them if I needed a primary mortgage, too….if their rates were the best, I’d go with them.
I think the first poster’s problems could and do happen with any financial institution these days, as has been pointed out. And I’d rather deal with someone flesh and blood in my neighborhood than a foreign or on-line only entity.
Interestingly, people who took a 5 yr arm which is resetting now are potentially coming out ahead.
I applied for a mortgage with Chase. They couldn’t find my credit rating and wrote up a mortgage with only my wife’s name on the note, and didn’t tell me.
I called them and mentioned that my name should probably be on the mortgage as well. A young woman from AZ told me that was impossible. I told her to forget it and then she seemed to find out that it was possible from her supervisor.
I asked her to go ahead and send me a new one and she said, “what if I go through all this work and you decide to go with another bank?”
Which is what I did. Local, smaller banks have better rates if more stringent credit requirements.
My last mortgage was at Chase, never had a problem. THen again I never had an issue to call them about.
I don’t understand, 10:49, why exactly you didn’t go to the branch where your acct is physically located and sit down in person with the branch manager.
I also have to agree, in this day and age, you need to be on top of your money. I check all my accts and credit cards every morning on the internet without fail.
I think foreign banks do it better, which is why my accts are at HSBC. I have some suggestions, which is to develop a good relationship with the tellers, at a minimum. They don’t make much, buy them a box of candy at Christmas. Then they can hook you up with someone when sh*t happens.
Now, about the OP, are banks STILL making ARM loans and people STILL taking them, Unbelievable.