Chase Eases Jumbo Mortgage Requirements

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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