Both UWM and Chase offer a variety of mortgage products and have their own strengths. UWM stands out with its quick loan processing and no prepayment penalties, making it a good option for those seeking efficiency and flexibility. Chase, on the other hand, offers direct customer service, an on-time closing guarantee, and a transparent online presence, making it a solid choice for those who value reliability and accessibility.
| Attribute | UWM (United Wholesale Mortgage) | Chase Mortgage |
|---|---|---|
| Interest Rates Offered | Competitive interest rates on Conventional Elite, FHA, VA, and USDA loans. Discounted rates for FHA and VA loans were offered in December 2023, such as 5.749% with 1.5 points. In August 2020, rates as low as 1.99% for 30-year fixed mortgages were announced. Average interest rate for loans in 2024 was 6.56%. Rates are not published online and are only accessible through a mortgage broker. | Chase updates its mortgage rates daily, Monday through Friday. As of May 7, 2025, Chase offered a 30-year fixed-rate at 6.625% and a 15-year fixed-rate at 5.750%. Existing Chase customers may qualify for interest rate reductions. |
| Loan Origination Fees | Aligned with industry standards, possibly below average. Typically range from 0.5% to 1% of the total loan amount. Specific fees are not disclosed. | Loan origination fees usually depend on the amount you're borrowing. On average, this fee is about one percent of your mortgage. |
| Down Payment Requirements | VA and USDA loans with no down payment for qualified borrowers. FHA loans with a minimum 3.5% down payment. Conventional loans with a minimum 3% down payment. Conventional 1% Down product where UWM contributes 2% (up to $7,000). 0% Down Purchase program provides a 3% down payment assistance loan. | Down payment requirements vary depending on the loan type. Conventional Loans: Can range from 3% to 20%. FHA Loans: As low as 3.5%. VA Loans: May not require a down payment. DreaMaker Mortgage: As little as 3% down. |
| Loan Types Available | Conventional, jumbo, FHA, VA, USDA loans, and refinancing. Specialized loans like bank statement loans and investor flex loans are also available. | Fixed-Rate Mortgages, Adjustable-Rate Mortgages (ARMs), Conventional Loans, FHA Loans, VA Loans, Jumbo Loans, DreaMaker Mortgage, Interest-Only Loans. |
| Customer Service Quality | Emphasizes broker training and support. Customer experience may vary depending on the broker. Dedicated to responsive customer service and offers online payment options. Customer service team can be reached at 888-464-2432. | Chase provides customer service via phone, in-person at branches, and through a mobile app. Representatives are available Monday to Friday, 8:00 a.m. to 8:00 p.m. ET, and Saturday from 9:00 a.m. to 6:00 p.m. ET. Chase receives mixed reviews regarding customer satisfaction. However, they earned an above-average score in J.D. Power's 2024 U.S. Mortgage Servicer Satisfaction Study. |
| Online Application Process Ease | Provides brokers with tools like Blink+ to streamline the application process, allowing them to run credit checks, issue e-sign documents, and verify assets. | Chase offers an online application portal. The online process allows you to apply, submit paperwork, and settle online. Chase has a transparent online presence and vast digital resources to guide you through the homebuying process. |
| Approval Speed and Closing Time | Efficient loan processing and quick turnaround times. Can close loans in 17 days or less. In Q4 2020, average application to clear to close time was approximately 18 days. | Chase offers an on-time closing guarantee. They provide a $5,000 closing guarantee if lender delays push your timeline (21 days for conventional loans, 30 days for FHA). |
| Geographic Availability | Available in all 50 states. | Chase is licensed to lend in all 50 states and the District of Columbia. |
| Minimum Credit Score Requirements | Minimum credit score of 620 for all loans. Conventional loans: 620, jumbo loans: 660, FHA loans: 580, VA loans: 580, USDA loans: 620. | Generally, Chase requires a minimum credit score of 620 for conventional and VA loans. FHA loans typically require a credit score of 580 or higher, or 500 with a 10% down payment. |
| Debt-to-Income Ratio Limits | DTI thresholds ranging from 45% to 55%, depending on the program. | A general rule of thumb is to keep your overall debt-to-income ratio at or below 43%. |
| Prepayment Penalties | No prepayment penalties. | Prepayment penalties may apply, and vary depending on the loan terms. They're usually calculated as a percentage of the remaining mortgage loan balance or a specific number of months' worth of interest payments. |
| Refinancing Options | Rate-and-term refinances and cash-out refinances. Specialized refinance programs like FHA Streamlines and VA IRRRLs are also available. | Rate-and-Term Refinance, Cash-Out Refinance, No-Closing Cost Refinance, Streamline Refinance. |