Please update your browser.Know your mortgage loan options
Mortgage options
Start onlineFind a loan to fit your needs
Conventional mortgages
Simply put, a conventional mortgage is a loan that's not backed by a government agency, such as the Federal Housing Administration (FHA) or Veterans Affairs (VA). There are two types of conventional loans: conforming and nonconforming. Conforming loans follow lending rules set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). When a loan doesn't follow these lending rules, it's considered non-conforming.
There are a number of factors that may cause a loan to be non-conforming; generally loan amount is a key factor. While a 30-year fixed-rate mortgage is a popular conventional loan, you have other options, such as a 15-year fixed-rate loan or a 7/6 ARM, to name a few. Think about your current budget as well as your longer-term financial goals as you plan. Our mortgage calculators can help you get there.
Things to consider:
While a 30-year fixed-rate mortgage is a popular conventional loan, you have other options, such as a 15-year fixed-rate loan or a 7/6 ARM, to name a few. Think about your current budget as well as your longer-term financial goals as you plan. Our mortgage calculators can help you get there.
Mortgages with lower down payments
Chase DreaMaker℠ mortgage
A DreaMaker mortgage has down payment options as low as 3% and lower monthly payments with a 30-year fixed rate.
Things to consider:
You'll need to meet income requirements to qualify for this loan.
Federal Housing Administration (FHA) loan
An FHA mortgage is a government-insured loan that offers down payments as low as 3.5%. FHA loans come with a 15-, 20-, 25- or 30-year term and have a fixed interest rate.
Things to consider:
While there are no specific income requirements to qualify, you will have to pay monthly mortgage insurance for the duration of the loan and a mortgage insurance premium at closing.
Veteran Affairs (VA) loan
A VA loan has low or no down payment options and no monthly mortgage insurance requirement. VA loans are available with 10-, 15-, 20-, 25- or 30-year terms.
Things to consider:
You must be a veteran, active duty service member or a member of the National Guard or Reserve to qualify for a VA loan.
Mortgages for higher-priced real estate
Jumbo loan
A jumbo loan is a mortgage for a more expensive property. The maximum amount for a jumbo loan at Chase is $9.5 million.
Things to consider:
You need to have a minimum credit score and a certain amount of cash to qualify.
Which loan works for your needs?
Consider these factors when deciding which loan fits your needs.
Conforming
Side 1 of 2Good income, down payment and credit score. Down payment between 3% and 20% of purchase price required. Strict lender requirements.
FHA,
Side 1 of 2Lower income, down payment and credit score. Down payment as low as 3.5% of purchase price. Monthly mortgage insurance required.
DreaMaker
Side 1 of 2Smaller or limited down payment. Down payment as low as 3% of purchase price. Strict income requirements.
VA
Side 1 of 2Veterans and active servicemembers. Down payments as low as 0%. Available to active servicemembers and veterans only.
Jumbo
Side 1 of 2Great income, down payment and credit score. Down payment of 15% or more of purchase price. Higher fees.
