“As mortgage rates continue to be volatile, our rate sale helps provide relief to customers who entered the housing market when rates were elevated, or help address an immediate cash need, such as for debt consolidation, funding retirement, home improvement, paying off credit cards, etc., through a cash-out refinance,” Gidwaney told HousingWire.
Gidwaney said that in an elevated rate environment, the Chase Home Lending team is seeing customers acclimate to higher rates, knowing that they may be able to refinance to a lower rate in the future.
Gidwaney explained that the rate discount depends on a customer’s service area. Consumers can check online to figure out the reduced rate and use online tools like Chase’s Home Value Estimator to determine their home’s tappable equity.
“If a customer has an opportunity to save, we advise speaking with a mortgage professional as soon as possible to assess potential refinance options,” Gidwaney added. “For instance, customers who purchased a home when rates were high could benefit from our limited-time refi rate discounts by lowering their monthly payment, reducing the terms of their mortgage to pay it off sooner or accessing their home’s equity to meet an immediate cash need.”
Gidwaney confirmed that customers don’t need to have previously done business with Chase to take advantage of the discounted rate.
“This offer extends to anyone with an existing mortgage at any lending institution looking to benefit from refinancing,” she said.
