Chevy Chase Bank is the region’s largest financial institution headquartered in the Washington metropolitan area. Chevy Chase Bank has nearly 250 branches and major centers in Laurel, Bethesda/Chevy Chase and Tysons Corner. They have over 1000 conveniently located ATMs. CEO B. Francis Saul II, who founded the bank in 1969, also heads retail real estate firm Saul Centers. He controls Chevy Chase Bank through various companies. Ninety percent of Chevy Chase’s $8 billion loan portfolio is for one-to-four family residences; that is a specialty of Chevy Chase Bank. They work to educate first time homebuyers (over 2,000 families since 1997), at no cost to them. They have financial education programs for customers and residents of their community.
Applying for a home loan is easy at Chevy Chase Bank. Their less paperwork application is available online and the potential borrower can be approved in as little as 20 minutes. Based on the customers needs he may find himself with several loan options. He can be pre-approved and even lock in an interest rate for free. Chevy Chase Bank offers online and telephone access to the home loan for their customers. They offer reward plans for combining the loan and a saving or checking account. Here are some of their many offerings:
Loans Funded by Chevy Chase Bank
- 3, 5, 7, or 10 Year Adjustable Rate Mortgages, Annual or Semi-Annual Adjustment
- 10, 15, 20,25 and 30 Year Fixed Rate Conventional Mortgages
- 15 and 30 Year Fixed Rate Jumbo Mortgages
- 7/23 Balloon Mortgage
- Interest Only Fixed Rate Loans
- Cash Flow Payment Option Loans (4 Payment Option Loan)
- Personally Tailored Mortgage
- Custom Home Loans (Construction Loans)
- Home Renovation Loans
- Home Equity Lines of Credit
- Home Equity Loans
Chevy Chase Bank has custom built their mortgages, home equity loans and lines of credit to fit their customers lifestyles, with the terms, rates, and payment plans that suit their individual goals and needs. Not only do they make borrowing easy, they make accessing their customers accounts easy too. The customer is rewarded with even more benefits and easier access to his funds when he combines his home loan with other Chevy Chase Bank accounts. Chevy Chase Bank often runs specials and sweepstakes for their customers.
Recent Chevy Chase Bank News
Chevy Chase Bank also supports the communities they serve. They support various education and housing programs. For example: Since 2002, Chevy Chase Bank has been a participating lender in various Section 8 Home Choice Voucher pilot programs in counties and cities throughout their market. These innovative programs enable renters to apply their Section 8 vouchers toward the purchase of their own homes. In September of 2005 the University of Maryland received a $2 million gift from Chevy Chase Bank that will create an endowment providing scholarships for business students and supporting internships for student leaders. The scholarships will be targeted toward transfer students from Montgomery College.
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