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Chase Manhattan Mortgage
Chase Manhattan Mortgage is the country's largest residential mortgage lender and the largest mortgage loan servicer, with a portfolio of approximately $230 billion. The Chase Manhattan Corporation, with more than $357 billion in assets, is one of the world's premier financial services institutions, with operations in 48 countries around the globe. Offering various plans such as the Fixed Rate Mortgages that remain the most popular type. With these loans, the interest rate is fixed for the life of the mortgage, so your monthly payments never change. Adjustable Rate Mortgages are attractive to buyers when interest rates and/or home prices are rising, as they typically have lower interest rates than fixed-rate loans and therefore require lower monthly payments. They are also easier to qualify for than fixed-rate loans. Buyers who choose ARMs take on some risk, because if rates rise their monthly payments will eventually increase, depending on the terms of their loan. ARMs offer lower initial rates than fixed for first few years, different terms are available including 3,5,7 and 10 years, down payment can be 5% or greater.
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