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Chase Home Lending increases its closing guarantee

Chase Home Lending, the consumer and commercial banking arm of JPMorgan Chase & Co., has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. 

The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. This grant can be used to discount underwriting fees paid at closing, or to reduce the interest rate and down payment. 

“Current market dynamics have impacted the affordability of homeownership for many Americans, and at the same time, competition has only increased,” Sean Grzebin, head of consumer details ⇒

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