Wells Fargo accepts a lower minimum credit score (600 vs. 620) and allows 3% down with gift funds, giving first-time buyers more flexibility.
Chase has branch presence in 22 states with member discounts and online tracking — useful if you already bank there.
Both have poor customer satisfaction scores — Chase earns 1.18/5 from BBB reviewers and Wells Fargo 1.3/5 on Trustpilot, with complaints about fees and slow service on both sides.
Choose Wells Fargo for lower entry requirements; choose Chase for the integrated banking experience, knowing service quality is a concern with either lender.
This summary was generated by AI and may contain errors or omissions.
How do Chase Bank and Wells Fargo compare?
Choose this lender for great in-person help at branches in 22 states
Watch out for frustrating customer service online and over the phone
A good option for borrowers who want a mortgage from a well-known bank.
Choose this lender for down payments as low as 3%
Watch out for hidden fees and scandals
A good option for borrowers who want to automate their payments
As of October 2020, Chase Bank has an A+ rating with the Better Business Bureau, yet reviewers on the site have only rated it 1.18 out of 5 stars. The bank’s score is only slightly better on Trustpilot, where it’s currently rated 1.3 out of 5. However, it’s important to note that these reviews are for Chase Bank as a whole and not necessarily its mortgage products.
Satisfied customers praise Chase’s mobile app, online access and personal service in branches. Most of the negative reviews focus on frustrating customer service, with customers having trouble getting in touch with a helpful representative, being passed around on the phone or just never getting the help they need.
Reviews for this lender are mixed, but trend toward negative. First-time homebuyers recommend Wells Fargo for its thorough guidance through the home loan process. Other borrowers praise its mortgage specialists for their professionalism and helpful advice over the phone.
Of the complaints, the most frequent was of customer service's slow response time and the excessive documents needed to assess loan applications.
As of February 2022, Trustpilot gives Wells Fargo a rating of 1.3 out of 5 stars based on 674 ratings. The Better Business Bureau doesn’t give Wells Fargo a rating, but it gets a customer score of 1.07 out of 5 stars based on 505 reviews, and the BBB has recorded over 1,712 complaints closed in the last year alone.
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