Chase Review

Michael Dinich

In a Nutshell

Chase is a household name and for good reason. This financial giant has been providing flexibility, convenience, and savings to its customers for more than 15 years, has a presence in more than 100 industries, and services millions of people. Chase has a wide offering of mortgage types, flexible repayment terms, and some of the lowest down payments anywhere. Add to that an easy online application process, and Chase is an obvious choice.


  • $1,000 closing guarantee
  • 75,000 Ultimate Rewards points
  • Low down payment options


  • Some fees charged are higher than competitors
  • Insufficient pricing information online

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Chase at a Glance 

Loan Types: Purchase, refinance, jumbo, fixed, adjustable

Featured Loans: VA, FHA, USDA

Repayment Terms: 10- 15-, 20-, 25-, 30-year fixed, 5-,7-,10-year adjustable

Minimum Down Payment: 3%

Minimum Credit Score: 620

Suitable For: Current Chase customers


Chase is a well-known brand just about anywhere you go. From a solid banking option to easy-to-use credit cards, Chase provides consumers with a strong lineup of financial products to ease their lives and maximize savings. Entering the home mortgage loans field, Chase has added yet another notch on its belt to help homeowners obtain better rates, faster quotes, and easier closings on mortgages across the country. While anyone can get a mortgage with Chase, current customers will have an even easier time of it, and in a minute you’ll see why.

Suitable For?

There’s no doubt that every homeowner can gain from using Chase as their mortgage provider, but current Chase account holders certainly have the most to gain. As we’ll explain below, there are so many benefits that come from bundling Chase's financial services that it almost makes it absurd not to take this option when searching for a mortgage. From the whopping 75,000 Ultimate Rewards points bonus you'll earn, to the prorated rates discount that account holders can enjoy, Chase really sweetens the pot for its members.

Types of Loans

Chase offers a wide range of loan types to consumers spanning everything from fixed- and adjustable-rate mortgages to home equity lines of credit. Chase also has several low down payment loan options to choose from. You can opt for FHA or VA mortgages, or you can look into a standard agency loan which offers a 3% down payment to borrowers with a credit score of at least 640. Chase also has something called a DreaMaker mortgage. This is also a 3% down payment loan and comes with another $500 discount when you finish a basic homebuyer education course.

  • Credit required: 620
  • Down payments: Ranges from 3%
  • Loan terms: 10-, 15-, 20-, 25-, 30-year fixed, 5-,7-,10-year adjustable
  • Eligibility: Varies based on loan type, 18 years or older, US citizenship, employment status

The Application Process

Chase has a 2-step application process, like most mortgage providers. You can begin the process either online, over the phone, or in person at one of the local Chase branches. The nice thing about Chase is that you can get the bulk of the work out of the way online. It offers fast and easy electronic submissions of all your application documentation.

This helps you cut down on the long wait at an office. You can also track your documents and application process online. Fill out the short application form online, and then a Chase representative will get in touch with you to ask you a few questions and finalize the application submission.

Chase has a $1,000 closing guarantee, guaranteeing to close with you within 21 days of getting all the paperwork required or you’ll get $1,000 in cash.


$1,000 closing guarantee

As we explained earlier, this is a guarantee that will give you $1,000 if Chase doesn’t manage to close with you within 21 days. This guarantee is an excellent offer because it means your loan provider will work hard to finish things up quickly. And even if they don’t, you walk away $1,000 richer.

75,000 Ultimate Rewards points

One of the reasons Chase members will gain from using Chase for a mortgage is because you get additional card benefits when you do. The most attractive perk is a 75,000 Ultimate Rewards points bonus for financing your new home purchase with Chase. This is an offer exclusive for current Chase Sapphire Reserve cardholders. Points can be used for online purchases, trade-ins, and even cash.

Another benefit for Chase account holders is a discounted rate. Refinancing through the Chase Private Client Mortgage Rate Program could qualify you for a hefty discount.

Low down payment options

Finally, Chase offers some enticingly low down payment options. As mentioned above, borrowers can enjoy down payments as low as 3% with Chase’s DreaMaker loan. There are also FHA loans that qualify for 3.5% down, and even VA loans that can land you a comfortable 0% down payment rate.


Some fees charged are higher than competitors

While it’s a great option for most people, Chase does have a few fees that can add to the overall costs of your loan. Fees that you may have to pay include origination, application, underwriting, and rate lock fees.

Insufficient pricing information online

While you can get a good estimate of prices and rates, you won’t get a full picture of your mortgage loan rates, discounts, monthly payments, APRs, etc. online. You'll have to speak to someone directly to get all these details. This is industry standard, however, so you can't really fault Chase for this policy.

Rates and Fees—The Bare Basics

As mentioned previously, Chase charges several fees that you should be aware of before you sign. You will be charged an application fee, but you might also be charged an origination, rate lock, and underwriting fee as well.

The good news is that you can easily get rate information and estimates on the Chase website by inputting information about the type of property being purchased, how much down payment you want to put down, what your credit score is, etc.

Repayment Terms

Chase offers several repayment options. This is great because it means borrowers can find the terms that work for their finances and projections. Chase has fixed-rate mortgages with 10-, 15-, 20-, 25-, and 30-year terms. You can also get adjustable rate mortgages for 5-, 7-, or 10-year terms.

Help & Support

Chase has world-class customer support available from 7am – 9pm ET on weekdays, and 8am – 5pm ET on Saturdays. You can reach out via any of the several toll-free numbers. Chase also has several online resources you can take advantage of including in-depth guides, articles, and online calculators.

How Chase Compares

Rocket Mortgage
Credit requirements
Minimum down payment
0%-2% based on type of loan
0% conditional
DTI ratio
Application, origination, underwriting, rate lock
No fees
Good-faith deposit, home appraisal, loan processing, origination
Repayment terms
10-, 15-, 20-, 25-, 30-year fixed, 5,7,10-year adjustable
10, 15, 20, 25 years
15-, 30-year fixed, 7-year variable


Chase is a reputable financial institution that you know you can trust to be straightforward, reliable, and honest. Its rates are very competitive, and Chase account holders can enjoy deep discounts and benefits as well. With an online application form to kick off the bulk of the process, Chase makes the whole mortgage loan search much simpler than ever before.

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Chase Mortgage FAQs

Q: Does Chase pre-qualify people for mortgage loans?

A: Yes, applicants can get pre-qualified directly on the Chase website.

Q: Should I take out a fixed- or adjustable-rate loan?

A: That depends on your big picture plan and finances. If you want to put up your feet and stay in your home for many years, a fixed-rate mortgage will offer you consistency and reliability in rates. ARMs, on the other hand, can give you lower rates from time to time.

Q: How much will I need to pay for a down payment?

A: This varies greatly from customer to customer. The down payment amount will depend on your finances, your credit report, the type of loan you take out, how much you can afford to put down, how much your mortgage is overall, and more. Speak to a representative or use the online calculator tool to estimate how much your down payment will be.

Q: Can I get a mortgage for more than one home?

A: Yes, Chase offers both first time and multiple-home mortgages. Fill out the application form, and a representative will help you figure out your options.

Physical Address

Chase Headquarters

270 Park Ave. New York, NY 10017

Michael writes for and has worked in personal finance since 1999. He shares unique insights on how to save money, increase income and prepare for retirement. Michael is a sought-after expert in the areas of taxation, personal finance, and health insurance planning.

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