Chase announced last month that, over the past four years, more than 368,000 customers received $87 million in rewards through its Mortgage Cash Back program.
Chase will distribute $4 million in December rewards for customers with loan anniversaries during the month. This year, Chase has paid $37 million in program incentives.
“We want our customers to know how much we value their business,” Chase Mortgage Banking CEO Kevin Watters said. “That’s why our Mortgage Cash Back program rewards customers who have both their mortgage and checking accounts with us.”
The Mortgage Cash Back program allows customers with new or refinanced mortgages, as well as a personal checking account, to earn up to $500 in rewards every year.
Customers are able to cash out or pay down the principal on their mortgages, leading to additional interest savings, which could allow them to pay their mortgages off early. Customers are also able to change their payout preference at any time.