We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Chase mortgage review

Last updated:  

finder.com’s rating: 3.5 / 5.0

★★★★★

Bank, invest and get a mortgage all in one place — but watch out for bad reviews.

Chase is one of the nation’s largest banks, and it offers online and in-person customer service. But customer reviews are mostly negative, and it’s been involved in a few mortgage scandals.

Details

Loan types Purchase, Refinance, Jumbo, FHA, VA, HELOC
Minimum credit 620
Minimum down payment 3%
Origination fee Lower than competitors
Other fees $395 application fee, in addition to other fees

Pros

  • Flexible application process
  • Online tracking
  • Other banking products
  • Member discounts

Cons

  • Multiple fees
  • Requires fair to excellent credit
  • Limited branches for in-person service
Chase Bank has a B+ rating with the Better Business Bureau, where it receives 1/5 stars from customers as of September 2019. It gets just slightly better marks on Trustpilot, where it gets 1.7/5 stars. But those reviews are for the bank as a whole, and not necessarily its mortgage products.

Happy customers praise the app, online access and personal service in branches. Most of the negative reviews focus on frustrating customer service, with customers having trouble getting ahold of someone, being passed around on the phone or just never getting the help they need.

What types of loans does Chase offer?

Chase offers several mortgage types, including:

Conventional

Chase offers fixed-rate conventional mortgages with terms from 10 to 30 years, as well as 5/1, 7/1 and 10/1 ARMs with 30-year terms.

Jumbo

Chase offers jumbo mortgages up to $3 million for qualifying homebuyers with 15% down.

FHA

Designed for low- to moderate-income borrowers, FHA loans can get eligible homebuyers into a house for as little as 3.5% down, and is available with a lower credit score than you’d need for a conventional mortgage.

VA

Military service members, veterans and some spouses may be eligible for a VA loan with $0 down.

Other loan types offered by Chase

  • Refinance. You can refinance your current mortgage to get a new interest rate or term length.
  • HELOC. If you’ve built up equity in your home, you can use a home equity line of credit to tap into it.

Chase’s fees

You’ll need to pay a $395 application fee to apply. Other fees aren’t disclosed on Chase’s website, but you’ll get an estimate after you apply.

Common fees associated with a new mortgage include:

  • Origination fee
  • Underwriting fee
  • Rate lock fee
  • Ongoing fees
  • Third party fees

Requirements

Your approval will depend on your creditworthiness and other factors. To apply for a Chase mortgage, you must:

  • Have proof that you are a US citizen or permanent resident.
  • Have a credit score of 620 or higher.
  • Be at least 18 years old.
  • Show documents to verify your employment, assets and income.

Documentation

You’ll need to be able to supply

  • Full name and personal contact information
  • Social Security number
  • Pay stubs from the past several months
  • W2s and 1099s from the past two years
  • Personal tax returns from the past two years
  • Profit and loss statements (if self-employed)
  • A list of your assets, including savings, real estate, car titles and other investment records
  • A complete list of your debts, including student loans, auto loans, personal loans and credit cards

Pros and cons of Chase

Pros

  • Flexible application process. If you live in a state with Chase branches, you can get help online or in person, both during the application process and for the life of the loan.
  • Online tracking. Use My Chase Mortgage to view your application’s progress and submit documents online.
  • Other banking products. Sign up for checking and savings accounts, debit cards, credit cards and lines of credit.
  • Member discounts. If you hold an account with Chase, you may be eligible for lower fees or rates.

Cons

  • Fees. In addition to an application fee, you’ll pay underwriting, origination and rate lock fees for your mortgage.
  • Requires fair to excellent credit. If your credit score is under 620, you may need to look elsewhere for approval.
  • Limited branches. You’ll only find branches in 22 states.

Compare to other lenders

Name Product Min. credit score State availability Loans offered
620
Not available in: HI, NY
Purchase, Refinance, Jumbo, HELOC, FHA, VA, USDA, Reverse
Loan officers work with you to find the right mortgage to fit your lifestyle and budget.
620
Not available in: AZ, HI, IN, MO, NV, NY, RI, UT, WA, WV
Purchase
Get personalized rates in minutes and then choose a home loan offer from several top online lenders.
620
Available in all states
Purchase, Refinance, Home Equity, HELOC, Jumbo, Reverse, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
620
Not available in: HI, MA, NV, NY, ND, UT
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Explore financing options and home shopping services all on the same website.
620
Available in all states
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Flexible options, fast approvals and support online backed by a trusted brand.
620
Available in all states
Purchase, Refinance, Jumbo, FHA
A subsidiary of CIT Group, CIT Bank is a direct lender that offers a variety of mortgage loan options.
620
Available in all states
Purchase, Refinance, Jumbo, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.
620
Available in all states
Purchase, Refinance, Jumbo, HELOC, FHA, VA, USDA
A national lender that offers the full selection of mortgage products.

Compare up to 4 providers

How to get a home loan with Chase

To get started:

Online

  1. Go to the Chase website.
  2. On the left side of the screen, click to open the site menu, and then click Mortgage.
  3. Underneath Buy a home, click Start online.
  4. Follow the onscreen prompts and supply information about yourself, your loan, the property and your finances.
  5. Submit your application and review your loan estimate.
  6. Supply any additional documents requested by your loan officer.

In person

  1. Go to the Chase website.
  2. At the top of the screen, click ATM & branch.
  3. Click Find an advisor, and then enter your zip code.
  4. Browse available advisors and view their pages. When you find an advisor you’d like to work with, view their page and click the button to have them contact you.
  5. Fill out the form with your contact information and wait for the advisor to schedule an appointment.

What is Chase?

Owned by international banking giant JPMorgan Chase & Co., Chase is one of the country’s largest banks. Aside from mortgages, it also offers bank and investment accounts, CDs, personal loans, car loans and business banking.

But it’s also been involved in several major mortgage scandals.

  • In 2013, Chase agreed to pay a $13 billion settlement to the US government over allegations that it had knowingly sold bad mortgages leading up to the financial crisis.
  • In 2015, Chase was charged a $900,000 civil penalty over allegations that it participated in an illegal kickback scheme where the company referred loans to a now-defunct company called Genuine Title in exchange for money.
  • In 2017, Chase agreed to pay a $53 million settlement over allegations that it charged African American and Hispanic borrowers higher interest rates than white borrowers.

Bottom line

Chase mortgage loans are flexible with competitive rates, making them a good choice for borrowers with fair to excellent credit. Before you apply, be sure to compare your mortgage options to make sure that you don’t miss out on lower fees or better terms available in your state.

Frequently asked questions about Chase mortgage loans

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews and borrower experience.

Read the full methodology of how we rate home loan providers.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.

2 Comments

  1. Default Gravatar
    Carol
    June 6, 2019

    Will Chase bank remove my partner’s name from mortgage if I have a USDA loan?

    • AvatarStaff
      Jeni
      June 8, 2019

      Hi Carol,

      Thank you for getting in touch with Finder.

      Kindly contact Chase if you wish to discuss on removing your partner’s name from the mortgage as your USDA loan has nothing to do on your loan with Chase. You may need your partner to sign a quitclaim deed to remove his name from the property deed.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

Go to site