Lending
Chase Home Lending Announces $2,000 Closing Cost Benefit for Servicemembers and Veterans
Chase furthers its commitment to help veterans, servicemembers and their families achieve homeownership
NEW YORK, October 27, 2022 — Today, Chase Home Lending announced a $2,000 VA Purchase Closing Cost Benefit to support homeownership for veterans, servicemembers and their families. The benefit is available to servicemembers and veterans purchasing a primary residence with a VA mortgage loan. The closing cost benefit is also stackable with other offers from Chase Home Lending, including Chase’s homebuyer grants,up to $5,000 for homes purchased in eligible census tracts, and the $5,000 Closing Guarantee.
“We’re proud to expand our portfolio of products and resources to those who have served our country and made sacrifices for their fellow Americans. Financial stability, education and access to homeownership are imperative for veterans, servicemembers and their families,” said Mark O’Donovan, CEO of Chase Home Lending.
The new $2,000 closing cost benefit is another step forward in Chase’s commitment to supporting military members and their families. The benefit may also be used for mortgage points, allowing customers to buy down their interest rate. Chase Military Banking products provide resources and benefits to 1.2 million consumer and business banking military clients.
“This new mortgage benefit, along with our other home lending resources, expands our promise to help veterans and servicemembers make their dreams of homeownership a reality,” said Mark Elliott, Head of Military and Veterans Affairs at JPMorgan Chase.
This year, Chase amplified its support for veteran-owned businesses, specifically veteran and military spouse-owned start-up and growth phase companies. Businesses gained increased access to financial services and capital, entrepreneurial development programs and marketplaces.
Veteran hiring efforts are also a focus. Chase leads the Veteran Jobs Mission, a private sector coalition of more than 250 companies committed to military and veteran talent development. Collectively, the coalition companies have hired more than 800,000 veterans and are working toward a goal of reaching two million and hiring 200,000 military and veteran spouses over the next ten years. Chase has hired more than 16,000 veterans across all lines of business and experience levels since 2011 and implemented programs to help attract, retain, and develop diverse veteran talent across lines of business.
To learn more about Chase’s Military Banking products and services, please visit chase.com/military. Chase also offers many tools and resources including the Homebuyer Education Center where you can read articles on various topics and the calculator hub, where you can see how much home you can afford. Additionally, Chase Home Lending launched a podcast, called Beginner to Buyer (beginnertobuyer.com), that aims to break down barriers to homeownership by hosting real conversations with real people. Episode 4 features a veteran looking to buy a home, and includes details about the VA loan mortgage process.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.8 trillion and operations worldwide. Chase serves more than 66 million American households and 5 million small businesses with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
Contact:
Ashlei Bobo, ashlei.n.bobo@jpmorganchase.com