Chase Eases Jumbo Mortgage Requirements

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August 06, 2015

Chase Bank is making it easier for buyers to purchase larger, more expensive homes.

CNN Money reports that the bank now requires potential buyers to have a 680 credit score and a 15 percent down payment for loans up to $3 million. Before, borrowers needed a 740 score and had to put 20 percent down.

Chase says it’s the only bank that allows a 680 credit score for primary and second home jumbo mortgages. Jumbo loans have increased in California, Chicago, and the Northeast.

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