StartinSanDiego

Limited time offer- Beginning May 8, Chase is rewarding existing cardholders of the Sapphire Preferred, Sapphire Reserve, and the no-fee Sapphire credit cards 100,000 rewards points upon closing a mortgage loan with the bank.

LTO- available until August 6.


https://www.chase.com/personal/home-...BRUR1/RetailMB

missamo80

Kinda doesn't seem worth it when you compare the APR on their loans to elsewhere. E.g., 15 year fixed rate is 3.957% when I can easily find elsewhere for only 3.349%.

Neil

Appleman

Same results here. I an refinancing my mortgage, which is currently with Chase. Chase's offer was 50 basis points higher than the offer I went with.

CaptainMiles

If you don't have a need for a mortgage, perhaps you could get one anyway for their minimum amount ($50K) and then immediately pay it off. AFAIK, Chase does not have early repayment penalties. Any ideas what the application and closing costs may be? I am thinking more than the value of the 100,000 UR, making this not worth it, but wondering if anyone here knows.

Xearoii

Now that's a manufactured spend I've never seen before!

Troopers

Might be worth if CPC.

araknis

Don't waste your time trying to get them to match another company's rate/fees on a loan. They kept telling me they could match it and I told them I doubt it, but they insisted on getting the competing GFE. There was a lot of back and forth (the banker I was dealing with didn't understand that there are 2 components to a loan, the rate AND the loan fees, non 3rd party) and finally they said they could not match it.

mike_L

Where did you see the rate? I did not see it on the URL. Do you need to go through all the step to see individual custom rate?

HawkeyeFlyer

Assuming fees etc make it not worth the time....speaking of which, how much paperwork and time are you going to spend for the 100K points.

Appleman

Yes, I had to go through the loan application. Waste of time. It was probably a hard pull on my credit report, but I did not check because it did not impact me getting a refi from another source.

MSPSKI

Wow. This thread is certainly a let down.
I was so jazzed reading about this a few months ago.
Figured that working direct with chase would be the shortcut to savings and points glory.
Figured this would be a 10 page thread. The final frontier of points accumulation.

Now i see the limited traffic this thread is getting without any positive data points.
Ill still make the call to get an idea of closing costs.
The rate they have online on that landing page seemed in the right ballpark.

I will update with some numbers for data points. I have a broker involved so its really just me shopping the rate.
Hopefully they can get by without another pull.

rasheed

Only for purchase loans and not refis..

Chase used to offer promos for mortgage with UA miles or MR points, but I haven't seen any active ones in years.

But people in this thread is correct, you are unlikely to find Chase competitive with any reasonable bankrate.com or zillow lender unless you are doing a HARP or HAMP (and even then, those don't qualify for this UR promo).

Rasheed

Aknoff

I'll chime in. We just closed on our house and Chase had a better 30-year fixed rate by a wide margin. I was unaware of the 100k bonus when I cold-called them while shopping around (we have credit cards with them so I figured why not), so this was truly a bonus.

To the closing costs, they were right in the middle of the road. I worked hard to drive those costs and any/all interest points down. But, it was worth the headache compared to the other rates I was seeing. Started shopping them in early May, closed beginning of July.

All that said, the points have still not showed up and the phone calls I've had inquiring about them have not been confidence inspiring. One agent even looked at my original 100K sign-up bonus and claimed I'd already received the home purchase bonus! The Sapphire Reserve folks just keep saying "there's a memo" in my account showing that we've closed and the points should be deposited soon. The home loan folks say it has nothing to do with them and I should talk to the Sapphire Reserve people. I plan to call again tomorrow since Friday is the deadline to close.

Brian Chen

"The average Reserve customer has an annual income above $180,000 and more than $800,000 in deposits and investments" -- woah


A Chase Sapphire experiment is getting revived and expanded - Business Insider

CreditMadeEZ

Their Jumbo rates for good customers is quite competitive. Though, from previous experience, you may end up with a higher rate if you try and take advantage of this offer.

I got an offer today for 50K https://www.chase.com/personal/mortg...rceCode=WUUEC1