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documents/house/house_hunting/chase_preapproval.md

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+---
+type: financial
+category: house_hunting
+person: xuewei_jiang, yanxin_lu
+date: 2022-02-15
+source: chase_preapproval.pdf
+---
+
+# Chase Mortgage Conditional Approval
+
+Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
+
+## MORTGAGE CONDITIONAL APPROVAL
+
+JPMorgan Chase Bank, N.A.
+1111 Polaris Parkway
+Columbus, OH 43240-2050
+
+Date: February 15, 2022
+
+Borrower(s): Xuewei Jiang, Yanxin Lu
+11950 Idaho Ave, APT 113
+Los Angeles, CA 90025
+
+Loan Number: 1360684321
+Property Address: Torrance, CA 90503
+
+---
+
+**Please review your Chase mortgage conditional approval**
+
+Dear Xuewei Jiang, Yanxin Lu:
+
+Thank you for your interest in a Chase mortgage loan. You're conditionally approved for a mortgage based on the terms below.
+
+While you're shopping for a home, you can use this letter to show that you're a Chase qualified buyer.
+
+### LOAN INFORMATION
+
+| Field | Value |
+|-------|-------|
+| Loan Amount | $1,600,000.00 |
+| Purchase Price | $2,000,000.00 |
+| Loan to Value (LTV) | 80.000% |
+| Estimated Interest Rate | 3.625% |
+| Rate Locked? | No |
+| Estimated Discount Points | 0.212% |
+| Estimated Mortgage Payment (includes Principal and Interest) | $7,296.82 |
+| Escrow Taxes and Insurance | No |
+| Escrow Flood Insurance | No |
+| Occupancy Type | Primary Residence |
+| Loan Type | 30 YR Fixed |
+| Term in Years | 30 |
+| Financing Type | Conventional |
+| Mortgage Insurance Required? | No |
+
+### PROPERTY INFORMATION
+
+| Field | Value |
+|-------|-------|
+| Property Type | SingleFamily |
+| Proposed State for Purchase | CA |
+| Proposed County for Purchase | Los Angeles |
+
+**This conditional approval expires on May 15, 2022, and is:**
+
+- Subject to compliance with all applicable federal, state and local laws, rules and regulations and the execution of all documentation we require.
+- Based on the information you provided in your application, which is subject to verification.
+- Not a commitment and may be subject to revision or revocation if there are changes to our credit policy or loan programs. We may not make this loan if it's not a "Qualified Mortgage" ("QM") under federal law relating to your ability to repay the loan.
+- Subject to our determination that the loan is not a high-cost loan, meaning the rate and fees will not exceed certain thresholds established by law.
+
+**Please send us the requested documents on the enclosed sheet before your conditional approval expires.** If we don't receive your information or your financial or any other information you sent us changes before this date, we reserve the right to cancel this conditional approval. For example, a change in income, such as temporary leave from work, before the first payment due date may impact the loan terms or approval.
+
+We recommend that you review the Consumer Financial Protection Bureau (CFPB) Home Loan Toolkit and the handbook.
+
+We want to provide you with the highest level of service. If you are not satisfied with the level of service we provide, please call me or your Client Care Specialist. We accept operator relay calls.
+
+I'm here to help make your mortgage experience as smooth as possible. If you have any questions, please call or email me.
+
+Sincerely,
+
+David J Yoon
+SA-Executive Mortgage Banker
+NMLS ID: 1591658
+(714) 270-9896
+david.j.yoon@chase.com
+
+(844) 716-0808 Fax; it's free from any Chase branch