Lender review
Chase review: what Michigan borrowers should know
One of the largest mortgage lenders in the country, Chase has retail branches across Michigan and pairs its DreaMaker 3%-down program with homebuyer grants in eligible areas. A natural fit if you already bank with Chase and want everything under one roof.
Best for: branch access and existing-customer relationships in michigan
Best fit: existing Chase customers wanting one roof
- Headquarters
- New York, NY
- Founded
- 1799
- NMLS
- #399798
- Min. credit score
- 620
- Min. down payment
- 3% (DreaMaker)
- MSHDA MI Home Loan
- Not on the list
What works
- Retail branches across Michigan for in-person help
- DreaMaker low-down loan plus homebuyer grants in eligible areas
- Relationship discounts for Chase Private Client customers
What to watch
- Big-bank process is slower than online lenders
- Best pricing is often tied to a banking relationship
- Rate quotes require contacting a home lending advisor
The full picture on Chase
Chase traces its lineage back to 1799 and ranks among the largest mortgage lenders anywhere, with retail branches scattered across Michigan. For buyers who already run their checking and savings through Chase, folding a mortgage in can feel like the path of least resistance.
The first-timer angle
Its standout is the DreaMaker program, a 3%-down loan that in eligible areas can pair with homebuyer grants to shrink the cash needed at the table.
Big-bank machinery
The process runs slower than online lenders, and the best pricing is usually tethered to a banking relationship. You won't find a rate without contacting a home lending advisor first.
For a straightforward buyer chasing the lowest posted number, the gated quotes can be a nuisance.
Loan programs at Chase
Which core Michigan loan types Chase offers, with the typical minimum down payment for each program. Program floors are industry standards — Chase's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | — No | — |
| Jumbo | ✓ Yes | 10–20% |
| Construction | — No | — |
Also offers: HELOC.
Where Chase's credit bar sits
Chase's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| Chase | Michigan median* | |
|---|---|---|
| Editorial score | 4.0 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 5 | 5 |
| Michigan-headquartered | No | — |
*Median across the 55 Michigan lenders in our catalog.
Compare: Wells Fargo loanDepot Rate (Guaranteed Rate) This week's Michigan rates
Chase: frequently asked questions
What credit score do you need for a Chase mortgage?
Chase generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
Will Chase sell my mortgage after closing?
It may. Many lenders sell the servicing rights to a loan after closing, so ask Chase directly whether it retains servicing or transfers it — your rate and terms won't change either way.
Independent and unpaid — Chase did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#399798). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.