Winter 2016 | Issue 24
Welcome to In the Community
Chase is a partner committed to providing the expertise and financing required to transform communities and lives through projects and products that create opportunities for low- and moderate-income customers and communities to achieve success.
We’re pleased to share with you the latest edition
- Introduction of two new affordable lending products that will provide low- and moderate-income customers the opportunity to achieve homeownership
- Renovation of a formerly vacant building into Detroit’s North End Career Center that will offer job skills, GED services, literacy programs and financial education to enhance workforce development initiatives already underway
- Equity financing for mixed-use development of public libraries, including the Mitchell Public Library in Milwaukee that will also offer housing
As the year comes to an end, we hope you’ve been inspired by the projects we’ve highlighted. We appreciate and look forward to your continued support, partnership and feedback as we head into a new year.
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Forging New Paths to Homeownership
Chase1 is committed to working closely with our community partners to develop strategies and solutions for sustainable homeownership. Homebuyer education and nonprofit partner capacity building are two key elements of this effort.
In 2016, we provided more than 450 homebuyer seminars across the country to help supply low- and moderate-income customers with the tools to homeownership. We also conducted more than 250 technical assistance training sessions directly with our nonprofit partners to help them better meet the needs of their clients.
Now, Chase is building on these initiatives through new mortgage products designed with low- and moderate-income customers in mind.
Over the last few months Chase launched two affordable lending products, DreaMaker 97% and Standard Agency 97% , that helps customers with limited cash for a down payment and closing costs. DreaMaker 97% includes reduced mortgage insurance coverage and competitive rates, making it one of the more affordable products available. And the Standard Agency 97% offers a $500 rebate for eligible customers who complete homebuyer education.
Chase affordable loan products provide greater flexibility in credit guidelines for customers with limited cash resources. Additionally, in select markets, homebuyer grants up to $1,500 may be available for lower income customers.
At Chase, we are focused on expanding our lending programs to help more customers achieve homeownership they can afford now and in the future. We look forward to continuing to work with our nonprofit partners to help even more low- and moderate-income customers navigate the path to their new front door.
For more information and to explore homeownership opportunities, please visit Chase.com