Consumer complaint received 2025-08-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: JPMORGAN CHASE & CO.
State: NJ

Complaint narrative:
I am in the process of closing on a house in XXXX  via Chase bank. The address is XXXX XXXX XXXX XXXX, XXXX, XXXX  XXXX. We provided Chase bank with every single piece of information they requested up front. This included paystubs, bank statements, and all mortgage related documents as i have 2 loans on my current home in XXXX. 

This transaction was originally contingent upon the sale of my current home in XXXX XXXX XXXX, XXXX XXXX, XXXX  XXXX. We provided Chase bank with all mortgage documents related to both loans on my current property. The first loan through Chase bank and the second loan via XXXX XXXX. During the transaction my wife and I wanted to explore our options on closing on the Tennessee house without the sale of my XXXX  home being a contingency. 

We have been working with XXXX XXXX who re-ran my dept to income ratio with me and told me that i would barely be making the dept to income ratio but i would be fine if i went with this option. Since i originally needed the money from the sale of my XXXX  home to complete the down payment i was told that i can obtain the money through a family member as a gift to complete. 

We thus went along with the information that was provided and obtained the money to complete the transaction. We also sent XXXX all bank statements proving we obtained the money as a gift and also provided proof of wire. 

I had been consistently told by XXXX and her team that everything was fine and that they had everything they needed. She told me she sent my account for final review and all that was remaining was waiting on the " clear to close ''. I got a call on XX/XX/XXXXXXXX  that Chase would not be unwriting my loan as my dept to income ratio was too high. She specifically told me on the phone that the underwriter " forgot '' to include my XXXX loan in the dept to income ratio. I do not understand how such an egregious error can be made so late in the process when XXXX had personally told me that my dept to income ratio was fine if we went with this approach. This misinformation as caused my family harm as we now have to move flights, cancel movers and a host of other things as a result of this error. 

Had we know that our debt to income ratio wasn't good enough from the beginning we could have made alternate plans. I would like to know what Chase will do to remedy this situation immediately as my family wants to close on our house per the original closing date of XX/XX/XXXX. We should not be made to suffer because Chase bank made an egregious error in calculation that was only realized 3 days prior to closing. 

We tried at the last minute to add my wife to the loan to see if the dept to income ratio will improve but XXXX was not able to run my wife 's credit through XXXX. She told us that she needed to call XXXX  to make sure there are no blocks and that everything was ok with the trade lines. After hours of trying to get a live person at XXXX  we got in touch with someone who confirmed with my wife that everything was fine with XXXX/trade lines and the issue was with Chase. 

We are incredibly frustrated and have never encountered such incompetence when dealing with a lender before. We want a resolution fast so that we can close on our house on time which is XX/XX/XXXX

Company response to consumer: Closed with explanation