Chase offers several loan types, but which one you can get depends on your credit score, income, and what you need the money for
Chase makes loans in three main categories: personal loans (unsecured, fixed-rate, typically $3,500 to $35,000), auto loans (for vehicle purchase or refinance), and home loans (mortgages and home equity lines of credit). You can also borrow against an existing Chase checking or savings account through an overdraft or line of credit. The bank does not offer payday loans or short-term cash advances to most customers.
What you can borrow depends on your credit history, current debt, income, and employment status. Chase typically requires a credit score of 670 or higher for personal loans, though some customers with lower scores may still be considered. The process starts with a conversation with a Chase banker or an online pre-qualification, which shows you rates and terms without affecting your credit score.
Key Takeaways
- Chase personal loans range from $3,500 to $35,000 with fixed rates and terms of 24 to 84 months, and you can see your rate before formally requesting the loan.
- Auto loans through Chase cover new and used vehicles, and refinancing an existing car loan from another lender is also an option.
- Home equity lines of credit and mortgages require you to own property and have substantial equity or a down payment.
- You can start the process online, by phone, or in a Chase branch, and the bank will pull your credit report only after you formally request a loan.
- Approval timelines vary: personal loans typically take 2 to 5 business days, auto loans 1 to 3 days, and mortgages 30 to 45 days.
Personal loans: what Chase requires and how much you can borrow
Chase personal loans are unsecured, meaning you do not pledge collateral. The bank lends between $3,500 and $35,000 at a fixed interest rate, with repayment terms of 24, 36, 48, 60, 72, or 84 months. Your monthly payment stays the same for the entire loan.
To be considered, you typically need a credit score of 670 or higher, a steady income, and a Social Security number or Individual Taxpayer Identification Number. Chase will ask for recent pay stubs, tax returns, and bank statements to verify your income. If you are self-employed, expect to provide two years of tax returns and possibly a profit-and-loss statement.
You can check your rate online without a hard credit pull. Chase shows you estimated rates and terms based on your information, and you can see the monthly payment before you commit. Once you formally request the loan, Chase pulls your full credit report, which does temporarily lower your score by a few points.
Auto loans: buying, refinancing, or taking over a lease
Chase auto loans cover new and used vehicles, and the bank will lend up to the vehicle's value. You can finance a purchase, refinance an existing auto loan from another lender, or take over a lease payment through a Chase lease-end program.
For a purchase, you will need the vehicle's VIN, the dealer's information, and proof of insurance before closing. Chase typically funds auto loans within 1 to 3 business days. If you are refinancing a loan from another bank, bring your current loan documents and the vehicle's title.
Interest rates depend on your credit score, the vehicle's age and mileage, and the loan term. Chase generally offers better rates on newer vehicles and shorter terms. You can pre-may have access to online to see your rate range without a hard credit pull.
Home loans and home equity lines of credit
Chase offers mortgages for home purchase and refinance, as well as home equity lines of credit (HELOCs) and home equity loans. A HELOC lets you borrow against the equity you have built in your home, typically at a variable interest rate, and draw money as you need it.
For a mortgage, Chase requires a down payment (typically 3% to 20% depending on the loan type), proof of income, and a credit score of 620 or higher, though better rates go to borrowers with scores above 740. The bank orders an appraisal and title search, which take 7 to 14 days. Full approval usually takes 30 to 45 days from process to closing.
For a HELOC, you must own your home and have equity (the difference between what your home is worth and what you owe). Chase typically lends up to 85% of your home's value minus what you still owe on the mortgage. The process process is faster than a mortgage—usually 10 to 20 business days—because the bank already knows your property value from public records.
How to start the process: online, by phone, or in branch
You can begin a loan request through Chase.com, by calling 1-800-935-9935, or by visiting a Chase branch in person. Online, you will answer questions about your income, employment, and what you need the money for. The bank shows you estimated rates and terms without pulling your credit report.
By phone, a Chase loan officer walks you through the same questions and can answer specific questions about your situation. In a branch, you meet with a banker who can review documents on the spot and answer questions about other Chase products you might use.
Once you formally request the loan, Chase pulls your credit report and orders any documents it needs—pay stubs, tax returns, bank statements, or property appraisals. You will receive a decision within the timelines listed above, though complex situations (self-employment, recent credit issues, or high loan amounts) may take longer.
What happens if you are denied or offered a higher rate than expected
If Chase denies your request, the bank will send you a letter explaining the reason—usually low credit score, high existing debt, insufficient income, or recent negative credit events like late payments or collections. You have the right to request a copy of the credit report Chase used, and you can dispute any errors on it.
If the rate offered is higher than you expected, you can ask Chase to review your process again, especially if your credit score has improved or if you can provide additional income documentation. You can also shop rates at other banks—a hard credit pull from multiple lenders within 14 to 45 days (depending on the loan type) counts as a single inquiry, so comparing does not harm your score as much as it appears.
If you are denied for a personal loan but have a Chase checking or savings account, ask about a credit builder loan or secured personal loan, which uses your savings as collateral and is easier to get.
Comparing Chase loans to other options
Chase personal loans carry fixed rates and predictable payments, which appeals to borrowers who want certainty. However, rates vary widely based on credit score—a borrower with a 750 score might pay 7% while one with a 650 score pays 18% on the same loan amount. If your credit is below 670, you may find better rates at a credit union or online lender.
For auto loans, Chase is competitive on new vehicles but may charge more on used cars older than 10 years. Credit unions often beat Chase on used-car rates, especially if you are a member.
For mortgages, Chase is one of the largest lenders but not always the cheapest. Rates change daily, and smaller banks and mortgage brokers sometimes offer lower rates on specific loan types. It is worth getting quotes from at least two other lenders before committing.
Frequently Asked Questions
Can I get a Chase personal loan if I have bad credit?
Chase typically requires a credit score of 670 or higher for personal loans. If your score is below that, you may still be considered if you have a co-signer with good credit, a substantial down payment, or a strong income relative to your debt. Credit unions and online lenders often have lower credit score requirements.
How long does it take to get the money after approval?
For personal loans, Chase deposits funds within 2 to 5 business days of final approval. Auto loans fund within 1 to 3 days. Mortgages close 30 to 45 days after process, but funds are disbursed at closing. HELOCs typically fund within 10 to 20 business days.
Can I pay off a Chase loan early without a penalty?
Chase personal loans, auto loans, and mortgages have no prepayment penalty, so you can pay them off early without extra fees. Paying early reduces the total interest you pay. Some HELOCs have a draw period (usually 10 years) during which you can borrow, followed by a repayment period.
What if I am self-employed or have irregular income?
Chase will ask for two years of tax returns and possibly a profit-and-loss statement. If your income has been declining, the bank may use an average of the past two years or ask for a letter explaining the decline. Seasonal businesses should provide documentation showing income patterns over a full year.
Do I need to be a Chase customer to get a loan?
You do not need an existing Chase account to request a loan, but having a checking or savings account with Chase may help your process and could may have access to you for a slightly better rate. Existing customers can also use Chase Online to track their loan and make payments more easily.