The Offer
- Chase customers can get $595 cash back after closing a purchase mortgage with Chase
You can get this deal if you close a new mortgage now or if you’ve closed one within the past 60 days.
To be eligible, a customer must:
- Have an existing or open a new Chase personal checking account. AND
- Enroll in Chase’s automatic mortgage payment service. With this service, their mortgage payment will be automatically deducted from their Chase personal checking account. Payments must go directly from a Chase personal checking account to the Chase mortgage and not be managed by third parties. AND
- Enroll the new mortgage in paperless statements.
The Fine Print
- This offer is only available for new, residential first mortgage purchase loans submitted directly to Chase.
- Customers must enroll in the $595 Cash Back promotion online within 60 days of closing with the E-coupon code provided in the Welcome brochure.
- Applications received after March 26, 2017 are eligible for the $595 Cash Back promotion.
- Property address must be included with the application.
- This offer is available to customers who live within the service area of a Chase branch. Customers who live outside the service area must have an existing Chase personal checking account or visit a Chase branch to open an account within 60 days of closing.
- This offer is not transferable, is limited to one per customer at any given time, and may be discontinued at any time without notice.
- The $595 Cash Back promotion may result in reportable income on Form 1099-INT to the customer and the IRS. We encourage customers to consult with personal tax advisors.
Our Verdict
Please do not take out a mortgage with Chase for the bonus. The main thing is to get the best rate and the least fees.
If you’re planning on doing a Chase mortgage or if you recently closed one, it’s a free $595 cash. If you don’t have a Chase checking account, you’ll have to open one for the mortgage deal to work. Be sure to get a bonus on the checking account too for the double dip. (Here’s a $300 bonus offer for the Premier account, but you’d probably be better off buying a coupon on eBay for the $300 Total bonus.)
Hat tip to Maximizingmoney
