Joseph C Tran
Buying a home is a huge step, especially when you’re moving from renting to owning.
Once you understand what you want out of a home, determining your housing budget is essential. After determining a loose housing budget, you'll need to decide how much you'll be comfortable paying each month. Your real estate agent will help you find the right home based on all of these factors. Looking for more information? Read our guide on “How to Find the Perfect Home!”
• Your Social Security number
• Pay stubs for the last two months
• W-2 forms for the past two years
• Bank statements for the past two or three months
• One to two years of federal tax returns
• A signed contract of sale (if you've already chosen your new home)
• Information on current debt, including car loans, student loans and credit cards
Calculators1
We’ve got all the tools you need to help you make the right decisions.
Use your annual income and expenses or maximum mortgage payment amounts to estimate the home price you can afford.
1 Tools and calculators are provided as a courtesy to help you estimate your mortgage needs. Results shown are estimates only. Speak with a Chase Home Lending Advisor for more specific information. Message and data rates may apply from your service provider.
2 For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase according to future index rates. The APR may increase after the loan closes.
3 Loans up to 85% of a home’s value are available on a purchase or refinance with no cash back, subject to property type, a required minimum credit score and a minimum amount of monthly reserves (i.e., you must set aside enough money in reserve to make a specified number of monthly mortgage payments [principal, interest, taxes, insurance and assessments] after the loan closes). Product restrictions apply.
4 Jumbo loans available up to $9.5 million. For loan amounts greater than $3MM (or $2MM for investment properties), customers must meet additional post-closing asset requirements to qualify. Additional restrictions may apply. Please contact a Chase Home Lending Advisor for details.
5 The DreaMaker mortgage is only available for purchase and no-cash-out refinance of a primary residence 1-4 unit property for 30-year fixed-rate terms. Income limits may apply and a homebuyer education course is required when all mortgage applicants who will occupy the residence are first time homebuyers.
6 A 3% down payment on a 30-year, fixed-rate loan of $250,000 with an interest rate of 7.125% / 7.7825% APR will have 360 monthly principal and interest payments of $1,686.05. Payments shown do not include taxes, homeowners insurance, or mortgage insurance (if applicable). Actual payments will be higher. This is assuming a New Jersey purchase transaction, 45-day lock, 97% LTV, 720 FICO, detached single family, owner-occupied, closest to zero discount points, rates change daily.
The APR shown is based on the interest rate, discount points, and mortgage insurance only and does not take into account other loan-specific finance charges you may be required to pay.
7 FHA loans require an up-front mortgage insurance premium (UFMIP), which may be financed, or paid at closing, and an FHA annual mortgage insurance premium (MIP) paid monthly will also apply.
8 A 3.5% down payment on a 30-year, fixed-rate loan of $250,000 with an interest rate of 7.75% / 8.5506% APR will have 360 monthly principal and interest payments of $1,783.65. Payments shown do not include taxes, homeowners insurance, or mortgage insurance (if applicable). Actual payments will be higher. This is assuming a New Jersey purchase transaction, 60-day lock, 96.5% LTV, 720 FICO, detached single family, owner-occupied, closest to zero discount points, rates change daily.
The APR shown is based on the interest rate, discount points, and an up-front mortgage insurance premium (UFMIP) only and does not take into account other loan-specific finance charges you may be required to pay.
9 Veterans, Servicemembers, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs (VA). A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply.
10 Restrictions and limitations apply to the access of Chase MyHome.
11 Property search is provided by HouseCanary, Inc. (HouseCanary), a licensed real estate brokerage. HouseCanary, powered by ComeHome, is not affiliated with JPMorgan Chase, N.A. (Chase). ComeHome is provided to you as a courtesy. Chase is not responsible for the real estate services and the search results provided by ComeHome.
12 Important Notice to Servicemembers and Their Dependents: A refinance may not be advantageous to you if you are currently eligible for benefits provided by the Servicemembers Civil Relief Act (SCRA). If you are an SCRA-eligible customer and have questions about the SCRA or about refinancing, please discuss with your Home Lending Advisor.
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.
13 A preapproval is based on a review of income and asset information you provide, your credit report and an automated underwriting system review. The issuance of a preapproval letter is not a loan commitment or a guarantee for loan approval. We may offer a loan commitment after you submit an application and we perform a final underwriting review, including verification of any information provided, property valuation and, if applicable, investor approval, which may result in a change to the terms of your preapproval. Preapprovals are not available on all products and may expire after 90 days. Contact a Home Lending Advisor for details.
14 The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rate, any points, and mortgage insurance for FHA loans. It does not take into account the processing fee or any other loan-specific finance charges you may be required to pay. Rates are estimated by state and actual rates may vary.
Rate, points and APR may be adjusted based on several factors, including, but not limited to, state of property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value and your credit score. Your final rate and points may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply.
Tools and calculators are provided as a courtesy to help you estimate your mortgage needs. Results shown are estimates only. Speak with a Chase Home Lending Advisor for more specific information. Message and data rates may apply from your service provider.
FHA loans require an up-front mortgage insurance premium (UFMIP), which may be financed, or paid at closing, and an FHA annual mortgage insurance premium (MIP) paid monthly will also apply.
For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase according to future index rates. The APR may increase after the loan closes.
15 The results of this calculator are an estimate only. Calculator results do not reflect all loan types and are subject to individual program loan limits. Results are based on the inputs you enter and whether you calculate affordability by “payment” or “income” in the “Loan & Borrower Info” section.
The mortgage you could afford depends on many factors, including your total monthly payment, income, debt obligations, creditworthiness, down payment amount and other factors your lender may consider. You should review your personal situation and work with your financial advisor to decide how much you can comfortably afford to borrow.
16 This Homebuyer assistance finder (Tool) is provided by Workforce Resource, LLC, and is not affiliated with JPMorgan Chase, N.A. (Chase). The Tool is provided as a courtesy for the purpose of finding available grants in your area. Chase does not guarantee the search results. Program availability and eligibility criteria are subject to change without notice. Neither the accuracy of program information nor the suitability of a program for your situation are guaranteed. The search results displayed should not be considered an exhaustive list of grants that may be available for you. Speak with a Chase Home Lending Advisor for more specific information or to learn about additional programs.
The NMLS ID is a unique identification number that is issued by the Nationwide Mortgage Licensing System and Registry (NMLS) to each Mortgage Loan Originator (MLO)
JPMorgan Chase does not offer tax advice. Please consult your tax advisor about the deductibility of interest and other charges.
All home lending products except IRRRL (Interest Rate Reduction Refinance Loan) are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.
Home lending products provided by JPMorgan Chase Bank, N.A. Member FDIC