Chase Mortgage Refinance Review


Rating: 7.2 / 10 (Very good)
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Chase Bank, formerly known as Chase Manhattan Bank, is a subsidiary of J.P. Morgan & Co., one of the Big Four Banks of the United States. Chase Bank currently holds 5,100 branches nationwide and provides both consumer and commercial banking in over 100 countries. The company boasts an A+ rating with the Better Business Bureau.

How is Chase rated?

Breakdown

7/10
Loan Options
7/10
Application Process
8/10
Reputation

Overall Rating: 7.2 / 10 (Very good)

Chase has been in banking since 1982 for both consumers and commercial enterprises. Though their mortgage refinance program is fairly standard, the large amount of educational resources and tools they provide outshines the competition.

Loan Options

Lender Type
Lender
Loans Offered
Rate & Term
Cash-out
Loan Programs
FHA
VA
Conventional
HARP
Jumbo
Fixed Year Terms
30 Year Fixed
25 Year Fixed
20 Year Fixed
15 Year Fixed
10 Year Fixed
Adjustable Rate Mortgage Terms
10/1 ARM
7/1 ARM
5/1 ARM

Loan Options - 7.2 / 10

Chase's mortgage refinance program focuses on conventional loans, with fairly standard terms and total loan amounts. They offer rate and term loans, with both fixed and adjustable rates. They also participate in the Home Affordable Refinance Program (HARP), which can be a great option if you're behind on payments or your house has lost value, leaving you in debt for more than its current appraisal.

Application Process

Minimum Credit Score
620
FHA Minimum Credit Score
580
Maximum LTV
80
Waived Fees
See fine print

Application Process - 7 / 10

Refinancing your mortgage with Chase is fairly similar to the process with any lender. Once all the documents are submitted, Chase evaluates your application and, together with an underwriter and a loan processor, decides whether to approve your refinance. Their website provides the option of applying online, or via one of their representatives. It also offers a good amount of educational materials.

Chase Reputation

Memberships & Regulatory Info.

Nationwide Mortgage Licensing System ID
399798
Nationwide Mortgage Regulatory Actions
7
NMLS Collection Date
2017-08-15
CFPB Total Mortgage Complaints
18,659
CFPB Collection Date
2017-07-13
Total VA Loans Written (Q1 2017)
732 loans
Total VA Loan Amount (Q1 2017)
$205

Online Reviews

Trustpilot Trustscore
7.6
BBB Rating
F
BBB Positive Reviews
2
BBB Negative Reviews
101
BBB Neutral Reviews
3
Date Collected
2017-08-15

Reputation - 7.5 / 10

Chase is a subsidiary of J.P. Morgan, whose reputation is less than stellar, largely thanks to being part of the group of banks which were bailed out in 2008's financial crisis. Chase itself has a few regulatory actions against them by the NMLS, and many complaints lodged with the CFPB. Customer complaints center around customer service and a general feeling of being ill-cared for by company representatives.

Contact & Additional Information

Homepage URL
Company Phone
(800) 873-6577
Headquarters Address
‎270 Park Avenue, New York, NY, 10017
Year Founded
1824

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