Chase Closing Guarantee Eligibility: These requirements must be met: (1) Apply for a first lien purchase home loan with Chase; and (2) Provide a complete application package, which includes all requested supporting documentation and signed disclosures, and a fully-executed purchase contract with all pages. (3) Conventional Loans: Closing date must be at least 21 calendar days after receipt of a complete application package, except for a cooperative project (co-op) which requires 60 calendar days. For any new construction property that receives an initial appraisal subject to repairs/completion, a final inspection is required. Chase guarantees closing within 3 business days of receipt of a satisfactory final inspection.  (4) FHA/VA loans: Closing date must be at least 30 calendar days after receipt of a complete application package. When an FHA/VA final inspection is required for new construction or specific home repairs, Chase guarantees closing within 5 business days from receipt of a satisfactory final inspection or satisfactory proof of final repairs. If property is a condo, the condo must be FHA or VA (as applicable) approved at the time of submission of the home loan application.

Product Exclusions: Refinances, transactions involving Consolidation, Extension and Modification Agreements (CEMAs) or loan amounts $2 million or greater.

Ineligibility: The Chase Closing Guarantee does not apply if the following occur: Customer or Seller initiates changes (1) to the original closing date documented in the purchase contract; or (2) within 10 calendar days of closing that impact loan amount, product type, contract terms, interest rate or initial rate locks. The Chase Closing Guarantee also does not apply if delays occur as a result of (1) completion of new construction, improvements or repairs being made to the subject property; (2) Failure by the customer or seller to meet contract terms and requirements, including seller-related delays; (3) Force majeure events, including weather or a natural disaster; (4) Third parties other than Chase-required service providers; or (5) Customer’s failure to respond to Chase requests in a timely manner (e.g. within 2 business days). Additionally, the Chase Closing Guarantee does not apply for transactions in which a direct personal, financial or business relationship exists among any of the parties to the transaction (non-arm’s length transactions). Chase reserves the right to amend, terminate or withdraw the Chase Closing Guarantee at any time without prior notice.

Closing guarantees and other awards (“awards”) transferred to you under the terms of the program will be considered by Chase a discount of underwriting fees paid at mortgage closing. Any awards transferred at or outside closing in excess of the value of the underwriting fees may be considered miscellaneous income and may be reportable on Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) to you and the IRS for the year in which you participate and receive the awards. You are responsible for any tax liability related to participating in the program. Please consult your personal tax advisor for questions about the impact to your personal income tax returns.