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Leverage Family Finances for Mortgage Approval

The Thompsons have a longstanding relationship with J.P. Morgan, which has managed the family’s money for over five generations. The youngest family member, Caroline, just graduated from medical school and is looking to purchase her first home in North Carolina before starting her job.

The Thompsons were worried that Caroline would have a tough time finding financing for her home, given that she did not yet have a source of income. While there was no taxable income that could be used towards qualification, the Thompsons set up an irrevocable trust for the benefit of Caroline with significant assets. They were pleased to find out that Caroline could be underwritten for a mortgage by creating an income stream from the liquid assets held in her irrevocable trust. By leveraging the trust’s liquid assets, the mortgage underwriting process was simplified and only required verification of the trust’s assets and a personal financial statement outlining Caroline’s assets and liabilities.

Once Caroline was approved and had J.P. Morgan’s formal commitment to lend, she was able to make competitive offers without financing contingencies, which quickly set her apart from other buyers.

All case studies are shown for illustrative purposes only and are hypothetical. Any name referenced is fictional and may not be representative of other individual experiences. Information is not a guarantee of future results.

Important Information

This material is for information purposes only, and may inform you of certain products and services offered by private banking businesses, part of JPMorgan Chase & Co. ("JPM"). Products and services described, as well as associated fees, charges and interest rates, are subject to change in accordance with the applicable account agreements and may differ among geographic locations. Not all products and services are offered at all locations.

GENERAL RISKS & CONSIDERATIONS

Any views, strategies or products discussed in this material may not be appropriate for all individuals and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. Asset allocation/diversification does not guarantee a profit or protect against loss. Nothing in this material should be relied upon in isolation for the purpose of making an investment decision. You are urged to consider carefully whether the services, products, asset classes (e.g. equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges, and expenses associated with an investment service, product or strategy prior to making an investment decision. For this and more complete information, including discussion of your goals/situation, contact your J.P. Morgan team.

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Certain information contained in this material is believed to be reliable; however, JPM does not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of this material. No representation or warranty should be made with regard to any computations, graphs, tables, diagrams or commentary in this material, which are provided for illustration/reference purposes only. The views, opinions, estimates and strategies expressed in this material constitute our judgment based on current market conditions and are subject to change without notice. JPM assumes no duty to update any information in this material in the event that such information changes. Views, opinions, estimates and strategies expressed herein may differ from those expressed by other areas of JPM, views expressed for other purposes or in other contexts, and this material should not be regarded as a research report. Any projected results and risks are based solely on hypothetical examples cited, and actual results and risks will vary depending on specific circumstances. Forward-looking statements should not be considered as guarantees or predictions of future events.

Nothing in this document shall be construed as giving rise to any duty of care owed to, or advisory relationship with, you or any third party. Nothing in this document shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by J.P. Morgan and/or its officers or employees, irrespective of whether or not such communication was given at your request. J.P. Morgan and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions.

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