You can choose to stop receiving “prescreened” offers of credit from this and other companies by calling toll free 1-888-567-8688. See PRESCREEN & OPT OUT NOTICE below for more information about prescreened offers
PRESCREEN & OPT-OUT NOTICE: This "prescreened" offer of credit is based on information in your credit report indicating that you meet certain criteria. This offer is not guaranteed if you do not meet our criteria, including providing acceptable property as collateral. If you do not want to receive prescreened offers of credit from this and other companies, call the credit reporting agencies toll-free at 1-888-567-8688; or write to: Experian, Inc., 701 Experian Parkway, P.O. Box 2002, Allen, TX 75013-0036; TransUnion Opt-Out Request, P.O. Box 505, Woodlyn, PA 19094-0505; or Equifax, P.O. Box 740123, Atlanta, GA 30374-0241.
Availability of Credit: This is not a loan approval. We are extending to you a firm offer of credit (as defined in the Fair Credit Reporting Act) for a 15- or 30-year fixed-rate fully amortizing first lien mortgage loan. We are extending our offer to you based on information in your credit report indicating that you meet specific qualification criteria for the offer. If you apply to us for credit and satisfy the other conditions described below and agree to our terms, we'll make the credit available to you.
Annual Percentage Rate (APR): The APR for our credit offer is estimated based on rates available as of the date detailed in your offer letter. Your APR will be determined after you apply and lock in a rate and will be based on your credit score, loan-to-value (LTV) ratio and other factors. The APR shown is based on rate only with the customer paying approximately 1 point at closing, which is generally 1% of the loan amount, and does not include other finance charges you'll be required to pay. If the loan amount exceeds 80% of the value of your property, private mortgage insurance (PMI) might be required and interest rates and APR may change. Details regarding the rate and APR quoted in this letter are available by calling the number listed on the front of this letter.
Loan Amount: Our offer is for a loan balance detailed in your offer letter, with the loan amount being 90% or less of the value of your property, depending on your credit score. The actual amount for which you qualify will depend on your income, credit score, property value and other factors. For example, a 30-year, fixed-rate loan of $275,000 with an interest rate of 4.125%/4.228% APR will have 360 monthly principal and interest payments of $1,332.79. This payment does not include taxes and insurance. Actual payment will be higher. This payment amount does not include taxes or insurance, so the payment amount will be higher. Debt-to-Income (DTI) Ratio: Total DTI ratios will be calculated based on information in your application. You must have sufficient stable income that can be documented to support your DTI ratio.
Collateral: Our offer is solely for a loan secured by an acceptable first lien mortgage or security interest on your owner occupied primary residence (single family or condo) located in the United States. After you apply, we'll order an appraisal of the property to determine its value and make sure it meets our criteria.
- To obtain credit, you must respond on or before the expiration date on the front of this letter and provide us with certain information in your application so that we can determine whether you meet the specific credit criteria we have established.
- We must be able to verify the information in your application and that you continue to meet the specific criteria used to select you for this offer.
- If you apply with a co-applicant, the co-applicant must meet our credit standards or offer terms may change.
- You'll be required to pay closing costs.
Your mortgage loan is being offered through JPMorgan Chase Bank, N.A. The amount you save on a refinanced mortgage may vary by loan. If a refinanced mortgage has a longer term than remains on your current loan, you will incur additional interest charges for the extended term.