Chase services and tools with Michael
Michael DeRosa
Senior Home Lending Advisor
NMLS ID: 58223
151 Trumbull St
Hartford, CT 06103
You can choose from various types of mortgage loans to finance your home purchase. These come with various benefits, and I am here to help you understand the differences so you find one that best suits your financial situation.
Start online with Michael
You can choose from various types of mortgage loans to finance your home purchase. These come with various benefits, and I am here to help you understand the differences so you find one that best suits your financial situation.
Start online with MichaelFrequently asked questions
When is it time to stop renting and buy a home?
When debating between renting vs. buying, you need to think about your lifestyle and finances. While renting can provide more flexibility, owning a home enables you to build equity in the property and may provide tax benefits.
How do I start the homebuying process?
Here are some steps to help you prepare to buy your first home:
• Pay attention to (and improve) your credit score
• Use our Affordability Calculator to see how much home you can afford
• Save money for a down payment
• Save for additional home buying costs (inspections, insurance, deposits, etc.)
• Get prequalified for a mortgage loan
• Find a Home Lending Advisor
• Find a real estate agent
• Start looking for homes!
• Pay attention to (and improve) your credit score
• Use our Affordability Calculator to see how much home you can afford
• Save money for a down payment
• Save for additional home buying costs (inspections, insurance, deposits, etc.)
• Get prequalified for a mortgage loan
• Find a Home Lending Advisor
• Find a real estate agent
• Start looking for homes!
Can I buy a home if I have less than perfect credit?
We may be able to help you buy a home, even if your credit isn't perfect. Keep in mind that lenders don't just look at your credit history, but also at your ability and willingness to pay in the future
How can I get information on mortgage loan options?
At Chase, you can choose from several types of mortgage loans to finance your home purchase. A Home Lending Advisor can help you understand the differences between the various loan options so you find one that best suits your financial situation.
What documents will I need to apply for a mortgage?
Traditional loans usually require documents that verify your employment, income and assets, and may include:
• 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
• 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
Our insights on homebuying
About Michael DeRosa
Michael proudly serves clients in the Hartford, CT area. Michael has 20 years of experience as a Senior Home Lending Advisor and specializes in pre-qualification, lending to self-employed clients, FHA and VA mortgages, condo and co-op lending, first-time homebuyer programs, and conforming loans and jumbo mortgages. Whether you're a first-time homebuyer, need to expand or downsize, or are looking for a second home, Michael is here to help you find the right mortgage to fit your needs. Starting with a review of your finances, Michael can help you get a clear picture of what might work best for you. Michael will explain your options, answer any questions you may have, keep you informed and guide you through every step of the mortgage process. Above all, Michael wants to ensure that you have a positive home lending experience.
More about Michael1. 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.
2. 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. Jumbo loans available up to $9.5 million. For loan amounts greater than $3MM (or $2MM for investment properties), customers must meet post-closing asset requirements to qualify. Additional restrictions may apply. Please contact a Chase Home Lending Advisor for details.
3. 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 and homebuyer education apply on a DreaMaker mortgage.
4. FHA loans require an up-front mortgage insurance premium (UFMIP), which may be financed, or paid at closing, and monthly premiums will apply.
5. Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veteran Affairs (VA). A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply.
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 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
2. 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. Jumbo loans available up to $9.5 million. For loan amounts greater than $3MM (or $2MM for investment properties), customers must meet post-closing asset requirements to qualify. Additional restrictions may apply. Please contact a Chase Home Lending Advisor for details.
3. 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 and homebuyer education apply on a DreaMaker mortgage.
4. FHA loans require an up-front mortgage insurance premium (UFMIP), which may be financed, or paid at closing, and monthly premiums will apply.
5. Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veteran Affairs (VA). A Certificate of Eligibility (COE) from the VA is required to document eligibility. Restrictions and limitations apply.
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 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