Chase Home Lending Mortgage Review 2021

By Bankrate Staff

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

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Loans offered

Conventional, FHA, VA, jumbo, fixed, ARMs; refinancing options include rate-and-term refinancing and cash-out refinancing; home equity lines of credit (HELOCs) (currently suspended)
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Nationwide availability

Available in all U.S. states; not available in U.S. territories
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Min. credit score required

620 for conventional loans; 640 for FHA loans; 680 for jumbo loans; 640 for VA loans

Pros and cons


  • Nationwide mortgage availability in all states
  • Electronic submission of loan documents
  • 5,000 branch locations in the U.S. 
  • Existing Chase customers may be able to receive discounted rates
  • Guarantees borrowers buying a new home an on-time closing (as soon as three weeks) or the client will receive $2,500 cash back


  • Fees for services, including loan origination, rate lock and underwriting
  • Doesn't have brick-and-mortar locations in all states
  • Big-box lender might not be a fit for borrowers with highly specialized needs
  • Doesn’t lend in U.S. territories

Chase Home Lending overview

Chase Home Lending, a division of JPMorgan Chase & Co. in New York, New York, is an online lender that was established in 2000. Because it’s one of the big-box lenders with national scope and a robust online presence, prospective borrowers are drawn to its streamlined application process and well-organized information on the process.  In addition to robust information and educational tools offered on the website, Chase Home Lending has programs to help prospective buyers get into the home they want. For instance, the DreaMaker mortgage program allows low- to moderate-income borrowers to put as little as 3 percent down (can come from an eligible grant or gift). Those clients can earn up to $500 for completing a homebuyer education program. Chase Home Lending also offers its proprietary Chase Closing Guarantee. The lender promises customers purchasing a new home an on-time closing in as little as three weeks. If the closing is delayed due to the lender, the borrower is entitled to $2,500 cash back. Borrowers who have an existing checking account (or open a new one) with Chase may also be eligible for a rate discount.

Loan types

  • Conventional
  • FHA
  • VA
  • Jumbo
  • Fixed
  • ARMs
  • Rate-and-term refinancing
  • Cash-out refinancing
  • Home equity lines of credit (currently suspended)

Lender fees

Lender fees at Chase Home Lending vary by product type. However, prospective borrowers can get accurate estimates of fees and rates based on inputs (property information, down payment, credit score and other factors) via the Chase website. The estimates offered include lender fees as well as projected third-party fees.

Minimum borrower requirements

Chase Home Lending adheres to the conforming loan requirements for mortgages approved by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as those backed by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA). While VA loans sometimes offer no down payment options, the other loans generally require a minimum down payment of 3 percent for conventional loans and 3.5 percent for FHA loans.

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