The bank has extended its new product and resource offerings to help homeowners and support first-time buyers, minorities and veterans on the path to homeownership.
Chase Home Lending announced the expansion of its $5,000 Homebuyer Grant Program to include additional Hispanic and Black communities in 16 markets, including Las Vegas. The Chase Homebuyer Grant can be applied toward two of the biggest barriers to homeownership—the upfront cash needed for a down payment and closing costs.
This expansion means that the grant is now available in more than 14,000 communities nationwide.
In Las Vegas and other communities, the grant is available for purchases of properties in areas identified by the U.S. Census as majority-Black, Hispanic or Latino. This grant is part of a special purpose credit program (SPCP) that Chase developed in accordance with federal legal requirements.
The $5,000 Homebuyer Grant:
· Is available on DreaMaker, Standard Agency, FHA and VA mortgages
· Can be used toward closing costs, down payment, and/or for points that can reduce the interest rate
· Is eligible for purchase mortgages on a primary residence only
Chase first rolled out the $5,000 Homebuyer Grant in 6,700 predominantly Black census tracts across the country in 2021. In 2022, Chase expanded the grant to over 5,000 Hispanic communities in 20 markets across the country.
“I’m excited to see the Chase Homebuyer Grant expanded to Las Vegas with the goal of making homeownership more accessible and affordable,” said Darius Toston, Chase Home Lending Manager for Las Vegas. “This grant program also serves as a meaningful investment in places that have been historically disinvested—helping to stabilize and revitalize Black, Hispanic, and Latino neighborhoods across the country.”
To find out if a property qualifies for the $5,000 grant, buyers can contact a Chase Home Lending Advisor or use Chase’s Homebuyer Assistance Finder, where you can also find additional grants and programs you may qualify for. Additionally, Chase continues to add resources to support homeownership at all stages:
· Lock and Shop: Lock in your mortgage rate for 90-days with no upfront fee when using Chase Homebuyer Advantage, so you can have peace of mind when shopping for a new home.
· Beginner To Buyer Season II: Chase launched the second season of its homebuyer education podcast, Beginner To Buyer, with new episodes featuring conversations about homebuying and ownership, home equity, common misconceptions, renovations, and investment properties.
· Veterans Purchase Closing Cost Benefit: Chase’s $2,000 VA Purchase Closing Cost Benefit is designed for veterans, servicemembers and their families purchasing a home with a VA mortgage loan. It’s also stackable with Chase’s Homebuyer Grant and the $5,000 Closing Guarantee.
· Chase MyHome Savings Calculator: Already have a Chase mortgage? You can now select up to three payment options (add to monthly principal, one-time lump sum, bi-weekly) to calculate overall interest savings and estimate new loan payoff dates within ChaseMyHome.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.7 trillion and operations worldwide. Chase serves nearly 80 million consumers and 5.7 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,700 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
