Chase might be best known for checking accounts and credit cards—but it’s also one of the biggest mortgage lenders in the country. Whether you’re buying your first home, refinancing, or upgrading to a larger place, Chase offers a wide range of loan options, including programs for borrowers with credit scores as low as 620.
With low down payment options, government-backed loans, and exclusive programs like DreaMaker and Agency Affordable, Chase aims to make homeownership more accessible. In this review, we’ll break down everything you need to know—from loan types and rates to the application process—so you can decide if Chase is the right fit for your next move.
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Chase Mortgage Pros & Cons
If you’re considering Chase for your mortgage, here’s a quick look at the biggest advantages and potential drawbacks to help you decide if it’s a good fit.
Pros
- Accepts credit scores as low as 620 – Offers options for borrowers who don’t have perfect credit.
- Offers low down payment options (as low as 3%) – Great for first-time buyers or anyone trying to keep upfront costs down.
- Exclusive discounts for existing Chase customers – You may qualify for lower rates or reduced fees if you already bank with Chase.
- Wide range of loan types, including DreaMaker and Agency Affordable programs – Offers more flexibility than some traditional lenders.
Cons
- Some borrowers report slower communication – You might not get updates as quickly as you’d like during the process.
- No USDA loans – You’ll have to look elsewhere if you’re buying in a rural area with a USDA-backed mortgage.
- Closing costs and origination fees can be higher than online lenders – Convenience and in-person service may come at a premium.
Chase Mortgage Eligibility Requirements
Before applying, make sure you meet the basic requirements for a Chase home loan.
Minimum Credit Score for Chase Mortgage
Chase requires a credit score of at least 620 for most mortgage types, including conventional, FHA, and VA loans. Higher credit scores may unlock better interest rates or qualify you for lower down payments.
Down Payment Requirements
You can put as little as 3% down with programs like DreaMaker and Agency Affordable. Conventional loans typically require at least 5%. Any loan with less than 20% down usually requires private mortgage insurance.
Do You Need a Chase Bank Account?
No, you don’t need to bank with Chase to apply. However, existing Chase customers may qualify for perks like lower interest rates or reduced closing costs.
Chase Mortgage Availability by State
Chase offers mortgages in all 50 states. You can apply online, over the phone, or in person at more than 4,700 branch locations across 48 states and Washington, D.C.
Types of Mortgages Offered by Chase
Chase provides multiple home loan options for different financial situations—from conventional mortgages to government-backed programs.
Conventional Loans
These are best for borrowers with good credit. Chase offers both fixed-rate and adjustable-rate mortgages with terms ranging from 10 to 30 years. A minimum down payment of 5% is typically required.
Jumbo Loans
If your home exceeds the conforming loan limit, Chase offers jumbo loans up to $3 million. These loans are ideal for high-cost areas or luxury properties and usually require a higher credit score and a larger down payment.
FHA Loans
Backed by the Federal Housing Administration, FHA loans allow down payments as low as 3.5% and are available to borrowers with credit scores starting at 620.
VA Loans
Available to active-duty service members, veterans, and eligible spouses, VA loans require no down payment and come with competitive interest rates and no private mortgage insurance.
DreaMaker Mortgage Program
Designed for low- to moderate-income borrowers, the DreaMaker program allows down payments as low as 3% and has reduced mortgage insurance requirements. You’ll need a credit score of at least 620 to qualify.
Agency Affordable Loan Program
If your credit score is 680 or higher, this program offers a 3% down payment with no income limit. You can also earn a $500 credit by completing a homebuyer education course, and in some areas, you may be eligible for a $1,500 grant.
Chase Mortgage Rates & Closing Costs
Chase offers competitive mortgage rates, but the actual rate and fees you receive will depend on your credit profile, loan type, and other factors.
Common Fees on Chase Mortgages
When you take out a mortgage with Chase, expect typical closing costs such as:
- Origination fee
- Underwriting fee
- Rate lock fee (if applicable)
These fees are included in your total closing costs and will vary based on your loan terms.
Discount Points
You can choose to pay discount points upfront to lower your mortgage interest rate. This can be a smart move if you plan to stay in the home long enough to break even on the cost.
Rate Discounts for Chase Customers
If you have a Chase checking, savings, or investment account, you may qualify for special rate discounts or reduced fees. These perks may also apply to Home Equity Lines of Credit (HELOCs).
Applying for a Chase Mortgage: A Step-by-Step Guide
Chase offers a flexible mortgage application process that works for both online and in-person borrowers. Here’s how it works from start to finish.
Step 1: Start With Prequalification
You can begin by filling out a quick prequalification form online. This doesn’t affect your credit score and gives you an idea of what loan types and rates you may qualify for.
Step 2: Submit a Full Application
Once you’re ready to move forward, you’ll complete the full mortgage application. You can do this online, over the phone, or at a Chase branch.
Step 3: Provide Required Documentation
Chase will ask for documents such as:
- Recent pay stubs
- W-2 forms and tax returns
- Bank statements
- Your signed purchase agreement (once under contract)
- Details of any outstanding debt, like car loans or credit cards
Step 4: Go Through Processing and Underwriting
Chase will review your application, verify your financials, and order an appraisal on the property. This is the longest part of the process, but you’ll be kept updated along the way.
Step 5: Close on Your Mortgage
Once your loan is approved, you’ll receive your final documents and schedule a closing date. Chase works to coordinate the timing so everything lines up with your home purchase.
Unique Benefits of Choosing a Chase Mortgage
Chase stands out from other lenders by offering helpful resources, competitive perks, and added convenience for existing customers.
- Helpful Tools and Educational Resources: Chase provides interactive calculators, step-by-step guides, video explainers, and homebuying checklists on its website. Whether you’re a first-time homebuyer or refinancing, these tools make the process easier to follow.
- Discounts for Existing Chase Customers: If you already bank with Chase, you may qualify for lower mortgage rates or discounted closing costs. These perks also apply to other Chase lending products, like HELOCs.
- In-Person and Digital Flexibility: You can complete the entire process online or work with a home lending advisor at one of Chase’s thousands of branches. This kind of flexibility isn’t always available with online-only lenders.
Chase Mortgage Reviews
Looking at customer reviews is one of the best ways to understand what it’s like to work with Chase for a mortgage.
- BBB Rating and Reputation – Chase Home Lending holds an A+ rating from the Better Business Bureau, showing a strong track record of addressing customer concerns.
- Common Praise – Many customers highlight the convenience of managing their mortgage alongside their Chase bank accounts. Others mention competitive rates and the range of loan options as standout features.
- Common Complaints – Some borrowers say the process felt slow, especially during underwriting. Others report inconsistent communication, which often depends on the local branch or assigned advisor.
Bottom Line
Chase is one of the top mortgage lenders in the country—and for good reason. It offers a wide range of loan options, including government-backed and low-down-payment programs, and serves all 50 states with both online and in-person support.
With flexible loan terms, resources for new buyers, and discounts for current Chase customers, it’s a strong choice for many homebuyers. Just be aware that while Chase isn’t the cheapest option on the market, the added convenience and support may be worth it—especially if you already bank there.
If you’re looking for a mortgage lender with name recognition, digital tools, and strong loan program variety, Chase is worth considering. As always, compare rates and terms from multiple lenders before making your final decision.