Chase mortgage rates
Chase mortgage rates and fees are in line with other major lenders.
In 2021 — the most recent data available — Chase’s average 30-year mortgage rates were on par with Rocket Mortgage and lower than some competitors, like Wells Fargo. Indeed, Chase’s rates were slightly lower than the national average, which was in the neighborhood of 3.08% that year.
Average mortgage rates at major lenders
| Chase | Rocket Mortgage | Wells Fargo | Freedom Mortgage | |
| Avg 30-Yr Interest Rate, 20211 | 3.02% | 3.00% | 3.14% | 2.66% |
| Median Total Loan Costs, 2021 | $3,696 | $4,670 | $3,600 | $3,880 |
| Median Origination Fee, 2021 | $1,290 | $2,430 | $1,330 | $0 |
Average rate and fee data were sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).
You might want Chase on your list if you consider yourself a “standard” home buyer looking for a mainstream loan option. Conversely, if you’re in a niche home buying group (low credit, unusual properties, inconsistent employment history, etc...), you may be better served by a specialist.
No matter who you are, you should shop around and compare rates from more than one mortgage lender before choosing a home loan.
Find your lowest mortgage rate. Start hereChase Mortgage review for 2025
Chase mortgage rates and fees are competitive, on average. And the bank stands out for having helpful online resources and a streamlined mortgage application process. Those who don’t want to apply online can usually meet with a living, breathing home lending advisor at their closest Chase branch. And you can contact them any day of the week by phone.
Regardless of how you choose to apply, you should be able to get a rate discount on your mortgage if you’re an existing Chase customer. You’ll also benefit from the ease of keeping all your finances under one roof.
All in all, Chase seems to be a reliable mortgage company. Many borrowers land a solid mortgage with rates, closing costs, and service standards that are in line with industry averages. You’ll also get the peace of mind that comes with choosing a respectable deal from a mainstream lender.
Working with Chase Home Lending
Chase puts in an honest effort to make the loan application process as transparent and straightforward as possible. That starts right at the beginning with the option to apply for a mortgage online, over the phone, or in a branch (if there’s one near you).
The convenience continues with a useful online service called “My Chase Mortgage” (My CM). My CM lets you follow your application and even amend it as you go — which many lenders don’t give you the opportunity to do. My CM also provides you with direct contact details for the individuals on the team of underwriters processing your loan.
Like any lender, Chase will request plenty of supporting documents during the loan origination process. Chase will want to see:
- W2s showing employment for the past two years
- The most recent month’s pay stubs
- Bank and investment statements for the past three months
- A signed contract to purchase a specific home
Chase’s online mortgage application lets you upload documents quickly, but you could also deliver them in person if you’re working with a Chase loan officer in a local branch. Just keep in mind that the process isn’t instant. Once you upload documents to the Chase website, someone must check them and update the system.
Chase customer service reviews
Chase gets decent feedback from its mortgage customers. In 2021, the Consumer Financial Protection Bureau (CFPB) received about 326 complaints from consumers about J.P. Morgan Chase & Co. mortgages. That was less than one complaint per thousand mortgage customers.
Chase also scored 843 out of 1,000 in J.D. Power’s 2021 mortgage customer satisfaction study. This was slightly below the industry average of 851, but many lenders found themselves beneath this threshold.
Customer service reviews at major lenders
| CFPB Complaints, 20214 | Complaints Per 1,000 Mortgages, 20215 | J.D. Power Satisfaction Score, 20216 | |
| Chase | 326 | 0.61 | 843/1,000 |
| Rocket Mortgage | 376 | 0.24 | 876/1,000 |
| Wells Fargo | 488 | 0.58 | 832/1,000 |
| Freedom Mortgage | 262 | 0.35 | 829/1,000 |
Mortgage loan products at Chase
Chase offers a fairly comprehensive range of mortgage types to finance a new home purchase:
- Conventional loans: A loan conforming to guidelines set by Freddie Mac and Fannie Mae. First-time home buyers can qualify with as little as 3% down payment and 620 minimum credit score. You can usually stop paying private mortgage insurance (PMI) after a few years
- Jumbo loans: For loan amounts above the conventional loan limit, which is currently $ in most of the U.S. Chase lets you borrow up to $3 million or 85% of the home’s value, whichever is lower. In certain cases, you may be able to borrow up to $9.5 million
- FHA loans: Popular with first-time home buyers, FHA loans let you buy with a down payment as low as 3.5% of the property’s value and offer more lenient approval requirements. FHA stands for Federal Housing Administration, the government agency that insures these loans
- VA loans: For eligible veterans and service members. There’s no down payment required and no continuing mortgage insurance. The Department of Veterans Affairs guarantees this program
- Fixed-rate mortgages: Interest rates are fixed throughout the loan, which means payments stay the same. Most home buyers choose a 30-year fixed-rate mortgage
- Adjustable-rate mortgages: Interest rates are fixed for the first 5, 7, or 10 years, then float for the rest of the 30-year term
If you have a FICO score of 620 or higher, you should be able to qualify for a conventional loan with at least 3% down. Chase recommends keeping your debt-to-income ratio (DTI) below 36 percent.
Chase does not offer USDA loans. So if this loan option interests you, you’ll need to find financing with another mortgage company.
Chase DreaMaker Mortgage
Chase has its own low-down-payment mortgage option for select home buyers. With the Chase DreaMaker mortgage, you only need to make a 3% down payment. Eligible borrowers can also receive $500 after completing a home buyer education course. The benefit can be applied toward discount points, Chase loan processing fees, and non-Chase closing costs. You must have a low or moderate income to qualify.
Chase Home Buyer Grant
You may be able to take advantage of Chase’s home buyer grant that awards $2,500 to purchase discount points and pay closing costs. The fine print on Chase’s website suggests that grant money can “possibly” be applied to your down payment, but you’ll need to speak with a lending advisor for more details.
What’s more, this home affordability grant is increased to $5,000 for those applying for a low-down-payment loan, including the DreaMaker, FHA, and VA loans.
Refinancing and home equity loans
Homeowners looking to refinance their current mortgage or tap their home equity using a second mortgage can find a standard slate of options with Chase. You could refinance into a conventional, FHA, or VA loan using the same application process you’d use to buy a new home.
Refinancing creates a variety of opportunities for existing homeowners. You might:
- Get a lower interest rate: Dropping your rate can lower your monthly payments and your long-term interest costs
- Change your loan term: Loans with shorter terms save money over the life of the loan. For example, refinancing from a 30-year to a 15-year fixed-rate loan could increase your monthly payment but reduce long-term costs
- Change your loan program: For example, some homeowners refinance from an FHA loan to a conventional loan to stop paying for mortgage insurance. You’d need at least 20% home equity to do this
Homeowners who have built up equity over time can access this resource by getting a second mortgage or a cash-out refinance through Chase Home Loans.
- Cash-out refinance: A new loan large enough to pay off your current loan balance and provide cash at closing. The funds can be used for things like home improvements, debt consolidation, or any other purpose
- Home equity loan: An installment loan backed by the equity in your home. Unlike a cash-out refi, you’d keep your current home loan intact, which means you’d have two separate mortgage payments each month
- Home equity line of credit (HELOC): A credit line backed by your home equity. With a HELOC you can access funds as needed rather than all at once
The amount you’re able to borrow from your home equity depends on your home’s value, your current loan balance, and your credit score, among other factors.
Check your refinance eligibility. Start hereChase Home Lending FAQ
Chase Bank (NMLS no. 399789) offers three ways to apply for a mortgage loan: online, in a Chase branch, or over the phone. This variety makes Chase an accessible mortgage lender for all sorts of buyers. Unfortunately, branch locations are limited outside of major metro areas. The good news is that you can apply online or over the phone in all 50 states.
Chase mortgage rates are generally on par with other big banks like US Bank or Bank of America. When you look at Chase’s mortgage rates, also pay attention to discount points. Chase usually includes one or more points in its advertised rates — which means you’d have to pay about 1 percent of the loan amount upfront to get the rate shown.
You cannot pay your mortgage with a Chase credit card. Most mortgage lenders won’t let you pay your mortgage by credit card at all. However, you can pay your mortgage directly from a Chase deposit account if you have one with the bank.
Chase mortgage does have a grace period, though the company doesn’t state the exact length. One Chase mortgage customer review suggests the grace period is 15 days. You’ll have to ask your loan officer to see what your specific grace period is. If you do not make a payment on time or within this period, Chase charges a late fee.
If you’re an existing Chase customer, the company’s Closing Guarantee promises your loan will close in three weeks (21 days) or less. Any longer than that, and the company says you’ll receive $2,500 cash back. Non-Chase customers will likely experience average mortgage closing times — around 30 to 40 days.
Yes, Chase Bank is an FHA-approved lender. You can get an FHA loan from Chase with as little as 3.5 percent down.
No, Chase is not authorized to do USDA-backed loans. These loans offer low and no down payment options to home buyers in rural areas.
Yes, Chase is an authorized lender with the Department of Veterans Affairs. Veterans, active-duty military members, and some surviving military spouses can use this program to buy a home with no down payment and no ongoing mortgage insurance premiums.
Once you’ve found a home and applied for a mortgage, you don’t have to lock in your rate right away. Mortgage rates change every day. Chase’s rate locks could last as long as 90 days.
As far as lender costs are concerned, Chase’s rates and fees are about average. And your mortgage payment will depend on your loan amount and exact interest rate. When you shop for home loans, keep in mind your house payment will also include homeowners insurance premiums and local property taxes — along with principal and interest payments on the loan itself. Taxes and insurance premiums go into an escrow fund for disbursement to your government and insurer.
Chase’s online application process isn’t as seamless as some digital lenders, like Rocket Mortgage. For example, you’ll need to speak with a loan officer over the phone even if you apply online. But Chase has added nice online features such as the ability to snap photos of your documents to upload them quickly. Chase also has online mortgage calculators to help determine your price range and tools to guide you to the right type of loan.
Is Chase the best mortgage lender for you?
Getting a good mortgage deal can save you tens of thousands of dollars over the life of your loan. That’s why it’s important to check multiple quotes and make sure the lender you choose is competitive.
If you’re an existing Chase customer, you might stand to save on housing costs thanks to special discounts. Other home buyers might prefer Chase for its helpful resources and relatively comfortable interest rates.
No matter your loan type or banking preferences, be sure to compare personalized rates from at least three lenders to find your best deal.
Methodology
The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:
- Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements
- Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services
- Ease of application: Includes the availability of an online pre-approval or pre-qualification process
- Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability
