Chase Home Lending is offering a limited-time mortgage rate discount for refinancing from Dec. 1 through Dec. 14. The discount varies by loan product and location, with potential savings for homeowners with high interest rates. Combining the discount with other Chase offers could result in a rate cut up to 1%.

The rate sale applies to both rate-and-term and cash-out refinancing options. A rate-and-term refinance allows for a new interest rate or term length, while a cash-out refinance lets homeowners take out equity in a lump sum.

Interested homeowners can utilize the Chase home value estimator to calculate their home equity and potential borrowing amount. Closing costs can range from 2% to 6%, with a refinance closing cost calculator available to estimate fees. Applicants will need to provide wage verification documentation and other financial statements.

Homeowners do not have to refinance with the same lender that issued their mortgage to qualify for the rate discount. Comparing lenders can help find lower rates or fees. Lock in the discounted rate for up to 60 days in select locations to secure pricing assurance in a volatile market.

Read more at Yahoo Finance: Chase launches refinance mortgage rate sale