Chase Home Loans is offering a new interest rate discount on refinances, as national home loan rates hit an 11-month low. The promotion is valid from September 8 to September 21, with discounts varying by mortgage product and location. Customers must lock in their rate during this period.

Mortgage rates vary by state and are based on creditworthiness and loan type. Chase’s rate sale applies to rate-and-term and cash-out refinances. A rate-and-term refinance involves changing your interest rate, repayment term, or loan type, while a cash-out refinance allows you to borrow money against your home’s equity.

Customers can combine Chase’s rate sale discount with a relationship pricing discount. By depositing new funds into Chase accounts, homeowners can reduce their rate by up to 1%. Confirm you’re not paying any discount points by reviewing your Loan Estimate for origination charges.

Chase’s sale excludes upfront interest payments in the form of discount points. Confirm this in your Loan Estimate under “Closing Cost Details.” Editor Laura Grace Tarpley.

Read more at Yahoo Finance: Chase launches a limited-time mortgage rate refinance sale