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January 04, 1991 - Image 4

Resource type:
Text
Publication:
The Detroit Jewish News, 1991-01-04

Disclaimer: Computer generated plain text may have errors. Read more about this.

"I REDUCED MY
MONTHLY MORTGAGE
PAYMENTS BY $437
THANKS TO CHASE."

rrf



...............

If you took out a fixed or adjustable rate mort-
gage several years ago, now may be the right
time to refinance with a mortgage from Chase.
That's because interest rates are currently
very, favorable. And Chase has a variety of flex-
ible financing options that help you take advan-
tage of these rates.
Switch to a Chase Financing Program
now On a $500,000 fixed rate mortgage, you
could reduce your monthly mortgage payments
by as much as $437 a month by changing to a
Chase mortgage at competitive rates. Since
Chase doesn't require a tax or insurance escrow
account, you'll also save on upfront costs. And
with our low closing costs you might save even
more.
You also have the option to refinance your
mortgage for more than your present loan bal-
ance. This option lets you borrow your closing
costs, so you pay no out-of-pocket expenses. The
equity you've built up in your home can also be

used to fund your child's education, make home
improvements, finance a vacation home and
more.
Leta Chase Personal Financial
Consultant show you all the benefits of
refinancing A Chase Personal Financial Con-
sultant will work closely with you to help design
a financing plan to meet your needs. And since
our expert Consultants have the authority to
approve loans, you'll receive a quick loan deci-
sion in 72 hours or less.
Discover how much you could save when you
refinance now with a Chase mortgage. Simply
call your local office below
f your borrowing needs are up to $1
million or more, talk to a Chase Personal
Financial Consultant.

Chase Personal
Financial Services

■ CHASE

d 11.1

As an example, assume a $500,000 fixed rate loan with a 30 year term at an interest rate of 11.25% and two points (APR 11.510) and a monthly payment of $4,856.
Refinancing this fixed rate loan after two years to a fixed rate loan at an interest rate of 10.00% and one point (APR 10.118) with 360 equal monthly payments of
4235
$4,419 would result in a $437 reduction in your monthly payment. This interest rate mayor may not be in effect at the time your loan is approved.

CHASE MANHATTAN OF MICHIGAN

BLOOMFIELD HILLS
Ross Roy Building
100 Bloomfield Hills Parkway, Suite 140
Bloomfield Hills, MI 48304

313-645-6466

© 1990 Chase Manhattan Financial Services, Inc.

4

FRIDAY, JANUARY 4, 1991

EQUAL HOUSING
OPPORTUNITY

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