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Owning a Home: Guidance from Your Local Home Lending Advisor – Los Angeles Sentinel | Los Angeles Sentinel

Chase and its mortgage team start by reviewing the overall financial status of each customer.

Home ownership is not just a dream for many Americans.of Chase MortgageIn the first homebuyer survey, 69% of respondents said they see home ownership as an important part of building wealth. The survey included more than 1,100 consumers who were considering buying a home and were willing to prepare for it.

The 2008 housing crisis and the COVID-19 pandemic continue to be a major problem for the black community, which has significantly lower home ownership rates compared to other groups. Toll.. That’s why Chase is taking steps to play an active role in creating opportunities for the minority community. This includes offering affordable low heads options with products and programs designed for black families on the road to home ownership. Dive in and find out what you need to know about buying your first home and how chase can help you realize your dreams.

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Working with Mortgage Advisors

Chase Mortgage Advisor You are responsible for helping you prepare for home ownership, finding a financing solution that suits your needs, and receiving all qualified down payment / housing assistance. Mortgage advisors work very closely with many first-time homebuyers to help them navigate this process for the first time. They also help customers looking for refinancing, or who may be upsizing or downsizing their current home. Chase and its mortgage team begin by reviewing each customer’s overall financial position to make the best recommendations for a successful homeownership path. From pre-qualification to closing, we are here to provide guidance, support and expertise in the process.

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Applying for a mortgage

Before we start this process, here are some basic things that first-time buyers should understand:

  1. Prepare your finances: Buying a home can be a big financial business, which is why it is important for you to keep your finances in good shape. This includes keeping invoices on time, not taking on new debt, and boosting your credit score. This will ensure low interest rates on your mortgage. With support, Chase makes it easy for customers to build up their credit scores. Project REAChThey can take that first step because it is a program that increases the likelihood of approval of applicants who previously lacked access.
  1. Down payment plan: It’s a well-known fact that you probably need to put money down.
  2. n In advance to buy a house. However, it is a myth that it needs to be reduced by 20%.All cases are different and various mortgages are available, such as chase, which may require only 3% down. DreaMaker.. There may also be local programs that can support down payments and closing costs. It’s always a good idea to start saving, but it’s also important to understand what products and aids are available.You can connect with Mortgage Advisor To get started.
  1. Get pre-qualification: When you start your home buying journey, you should know in advance how much home you can buy.Get Pre-qualification Through lenders like Chase, you can see what you might be eligible for, and it also shows sellers and realtors that you are a serious and competitive buyer.
  2. Check available resources

Chase’s Homebuyer Grant program provides eligible customers with up to $ 5,000 to help with closure costs and down payments when buying a home in more than 6,700 minority communities nationwide.Tracking DreaMaker Mortgages offer a 3% down payment and a reduction in mortgage insurance.

Chase also said, “Community Mortgage AdvisorIs designed to belong to the minority and low to middle income communities. These are experts focused on local housing and down payment support programs and work closely with local housing nonprofits and other community organizations. To date, Chase has hired more than 100 community mortgage advisors nationwide and will continue to grow.

Let’s start today

Chase’s for those who embark on a journey to home ownership Financial Goal Hub It’s a great starting point. First, select goals that may save or build credit, and consider advice, offers, and tools to help you track and achieve them. NS Grow your savings For example, the page has an interactive calculator that plans a timeline to reach your savings goals and highlights how auto-save tools can help you manage your regular savings schedule and reach your goals. I have. Budget worksheets for monitoring and tracking your monthly spending, guidance for building and protecting credits using credit journey tools, low-cost check account background designed for those with acquisition problems There are other great resources as well. Hold an account in the past.

Know when to buy

Buying a home is exciting, but it can also be a lot of stress.Learning as much as you can about the home buying process is the best you can do Previous You start shopping for properties and compare mortgage options. Here are some other questions to consider before buying a home:

  • Do you have a stable income you can count on?
  • How much house can you afford?
  • Did you choose the place you want to stay for a long time?
  • Are you reluctant to manage your debt?

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If you think you’re ready to take the next step in buying a home Reach out To learn more about the tools, resources, and capital that will help you realize your homeownership dream.

JPMorgan Chase & Co. Sponsored content.

Owning a Home: Guidance from Your Local Home Lending Advisor – Los Angeles Sentinel | Los Angeles Sentinel Source link Owning a Home: Guidance from Your Local Home Lending Advisor – Los Angeles Sentinel | Los Angeles Sentinel

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