First USA

First USA is a Bank One company that operates through out the United States.  First USA does not have mortgage options in their loan programs; they only offer education loans and vehicle loans.  If you wish to get a loan through a Bank One company, you will have to go through Chase.

Chase is a global financial firm whose corporate headquarters are in New York.  The firm operates JP Morgan Chase, JP Morgan, and Chase/ Bank One Corporations.  Chase does not offer online applications for mortgages.  They request that you call or email their mortgage consultants to find a mortgage that suits your needs.

First USA Mortgage Loan Options

Chase offers all conventional home mortgages.  For each conventional mortgage, Chase requires a twenty percent down payment, or Mortgage Insurance.  They do, however, have No Down Payment Options for borrowers with good credit, but little savings.  In these cases, the closing costs can also be financed into the loan amount, or can be paid from other resources such as gifts, grants, or employee assisted housing funds. 

In addition to conventional home mortgages, Chase offers construction financing programs for borrowers who are building their own homes.  The Single Close Construction-To-Permanent -Loan requires only one application, one approval process, and one closing for construction and permanent financing of your new home.

Chase has many programs to finance condominiums (high rise and low rise), Planned Unit Developments (PUDs), and cooperatives (Co-ops).  While Chase only finances cooperatives located in New York, it finances condominiums and Planned Unit Developments across the United States.

If you are considering financing your home purchase through Chase, you will be interested in their Chase Dream Maker Commitment.  Chase Home Financial has pledged $500 Billion to help people purchase a home, refinance, or open a home equity line of credit.  This program is aimed towards people who did not previously have access to home financing, especially minorities, new immigrants, and all people with low to moderate income.  The program offers simplified documentation, flexible down payments, low or no closing costs, and flexibility for a variety of credit histories.  Chase promises its clients a multilingual staff, convenient office locations, provide financial education, and to find strengths in your credit history.

Bank One, First USA, and Chase are all subject to the Fair Housing Act of 1968.  They may not discriminate against borrowers based on their age, sex, disability, familial status, race, color, religion, or national origin.

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