Because Chase is one of the larger mortgage servicers in the US, many people who are interested in the HARP® refinance program are asking the question:
Does Chase Bank do HARP® 2.0 Refinances?
The good news is that yes, Chase Bank does HARP® refinances and they are one of the bigger lenders who can help you refinance your house if you meet the HARP® guidelines. But do you know one simple thing that you can do to save money on your HARP® refinance that you probably won’t hear from anyone at Chase Bank?
Keep reading – the tip is further down the page.
The HARP® refinance program was recently extended until 2015 and is easily one of the most popular refinance programs in America over the last few years. Thousands of people have been able to lower their interest rate without having to worry about geting hung up on loan to value issues.
Chase Bank: Do They Really Own Your Loan?
Even though you may make your payment to Chase Bank doesn’t mean they own your loan. Many times, Chase is just the servicer of yoru loan – or the company that collects the mortgage payments on behalf of the loan owners. The largest mortgage owner in the US are the GSE’s – Fannie Mae and Freddie Mac. This is good news for many people because the first requirement for doing a HARP® refinance is that it is owned by one of these two entities (Fannie or Freddie).
Once you determine if Fannie Mae or Freddie Mac own your loan, the next step is to find a lender who can give you a quote on a HARP® refinance.
HARP® Refinancing: Saving Money No Matter What
Now for the single best tip you can get when shopping for a HARP® refinance – shop around.
If you walk into Chase Bank and ask them for a quote on a HARP® refinance, chances are very, very, very good that you will be able to get a better deal if you shop around. If you shop around and find a better deal than you first found at Chase, then bring the deal back to Chase and see if they can make it better for you. You might be surprised at how much money you can save just by shopping a few lenders and getting a written quote.
Get a free HARP® quote if your loan is serviced by Chase Bank and get started saving money today!