Chase vs Wells Fargo
Both are conventional-loan lenders: 97.1% of Chase's 2025 loans and 94.9% of Wells Fargo's, averaging $703k and $1.16M.
The short answer
Lean toward Chase if…
- you want lower upfront costs: its median total loan costs on those loans were about $572 lower.
- service record matters most to you: it drew about 7.8 CFPB complaints per 1,000 loans it made in 2025, against 28.6 (a rough ratio — complaints also cover loans each services).
- you're buying in Ohio, where it lends at 16× the other's volume.
Lean toward Wells Fargo if…
- you want the lower typical price: on conventional 30-year fixed purchase loans with at least 20% down, its borrowers' median APR ran 0.05 percentage points lower against the market benchmark (2025 HMDA).
No meaningful difference on FHA focus, VA focus and refinance focus — there, the better quote decides.
Every point above comes from federal lending data, not from either lender. Your own rate depends on your credit, down payment and points, so get Loan Estimates from both on the same day.
Chase
Best for existing bank customers
The mortgage arm of the largest U.S. bank, with relationship pricing for eligible deposit and investment clients.
94,243 loans in 2025 · avg $703,373
Full reviewWells Fargo
Best for branch banking
One of the largest bank mortgage lenders, with a nationwide branch network and its own down-payment-assistance grants.
41,562 loans in 2025 · avg $1,159,688
Full reviewChase vs Wells Fargo: side by side
| Chase | Wells Fargo | |
|---|---|---|
| Type | Bank | Bank |
| Headquarters | New York, NY | San Francisco, CA |
| Best for | Existing bank customers | Branch banking |
| Loan types | Conventional · FHA · VA · Jumbo | Conventional · FHA · VA · Jumbo |
| Loans originated (2025) | 94,243 | 41,562 |
| Total lending (2025) | $66.3B | $48.2B |
| Average loan | $703,373 | $1,159,688 |
| Approval rate* | 85.6% | 77.7% |
| Conventional share | 97.1% | 94.9% |
| FHA share | 1.8% | 3.1% |
| VA share | 1.1% | 2% |
| Purchase share | 60.2% | 62.3% |
| Refinance + cash-out share | 28.4% | 30.8% |
| Approval: conventional* | 86.4% | 79.1% |
| Approval: FHA* | 57.5% | 51.4% |
| Approval: VA* | 83.8% | 77.9% |
| Second-lien / home-equity share | 5.4% | 0.1% |
| CFPB complaints (12 mo.) | 736 | 1,187 |
Source: 2025 HMDA data (FFIEC/CFPB); CFPB Consumer Complaint Database. *Approval = originated ÷ (originated + denied); it mirrors each lender's channel and borrower mix, not how hard it is to qualify — see our HMDA study.
What their borrowers actually paid
Medians from 2025 HMDA loan-level records for 30-year fixed home purchases, compared like for like. "Vs benchmark" is the APR minus the average prime offer rate for the week each rate was locked, so loans locked in different weeks compare fairly.
| Loan type | Chase | Wells Fargo | All lenders |
|---|---|---|---|
| Conventional | 6.49% · −0.13 vs benchmark · $4,695 costs (20,595 loans) | 6.375% · −0.18 vs benchmark · $5,267 costs (8,331 loans) | 6.50% · +0.02 · $5,476 |
| Jumbo | 6.49% · −0.20 vs benchmark · $7,743 costs (1,904 loans) | 6.125% · −0.48 vs benchmark · $9,955 costs (926 loans) | 6.625% · +0.00 · $10,251 |
| FHA | 6.25% · +0.46 vs benchmark · $5,944 costs (1,054 loans) | 6.125% · +0.23 vs benchmark · $11,895 costs (467 loans) | 6.25% · +0.42 · $11,291 |
| VA | 6.125% · −0.52 vs benchmark · $3,841 costs (978 loans) | 6.125% · −0.39 vs benchmark · $6,269 costs (602 loans) | 6.125% · −0.36 · $6,554 |
Source: 2025 HMDA loan-level data (FFIEC/CFPB), first-lien 30-year fixed purchases; costs are the borrower-paid total loan costs. Rates have moved since 2025: use these to compare the two lenders, not as today's quote — see today's average rates.
Chase or Wells Fargo: which fits your loan
Which of the two writes more of each loan type, from 2025 originations.
| Your situation | Does more of these | Evidence (share of loans) |
|---|---|---|
| Buying with an FHA loan | No clear edge | 1.8% vs 3.1% of loans (U.S. 13.2%) |
| Using a VA loan | No clear edge | 1.1% vs 2% of loans (U.S. 8.2%) |
| Buying a home (purchase) | No clear edge | 60.2% vs 62.3% of loans (U.S. 52.5%) |
| Refinancing to a lower rate | No clear edge | 14.3% vs 11% of loans (U.S. 15.3%) |
| Cash-out refinance | No clear edge | 14.1% vs 19.8% of loans (U.S. 14%) |
| Large or jumbo loan | Wells Fargo | avg loan $703k vs $1.16M |
Where each one is bigger
Chase reported more 2025 HMDA activity than Wells Fargo in 50 of 51 states, and Wells Fargo led in 1. Chase's strongest relative edge is Ohio (16× the other's volume).
| State | Chase | Wells Fargo | Bigger here |
|---|---|---|---|
| California | 50,331 | 16,714 | Chase |
| Texas | 30,305 | 6,847 | Chase |
| Florida | 29,501 | 6,462 | Chase |
| New York | 24,722 | 5,223 | Chase |
| Illinois | 22,230 | 1,751 | Chase |
| New Jersey | 14,736 | 3,372 | Chase |
| Georgia | 12,883 | 3,439 | Chase |
| North Carolina | 10,112 | 4,286 | Chase |
The eight states where the two together are most active. HMDA records include applications and loans reported for 2025.
Approval by loan type
The widest gap is on conventional applications: Chase approved 86.4% of decisioned conventional applications in 2025 and Wells Fargo 79.1%.
Complaints to the CFPB
| Chase | Wells Fargo | |
|---|---|---|
| Mortgage complaints since November 2025 | 736 | 1,187 |
| Most common issue | Trouble during payment process | Trouble during payment process |
| Timely company response | 100.0% | 100.0% |
| Closed with relief | 1.8% | 8.8% |
CFPB Consumer Complaint Database, complaints received since November 2025 under "JPMORGAN CHASE & CO." and "WELLS FARGO & COMPANY". Counts grow with the number of loans a company services and are not adjusted for size; complaints are not verified findings.
Who each lender is for, and not for
Chase
Good fit: Chase fits two very different buyers well. The first is the existing Chase deposit or investment customer who can convert qualifying balances into a relationship rate discount and keep banking and mortgage in one place.
Think twice if: Chase's relationship rate discounts depend on balances: existing deposits and investments need at least $150,000, and discounts beyond 0.25% (up to 1%) require moving new money to Chase.
Wells Fargo
Good fit: Wells Fargo makes the most sense for existing Wells Fargo banking or wealth-management customers who value relationship pricing and one-roof convenience, and for buyers in the specific metro areas where its down-payment and closing-cost assistance is offered.
Think twice if: Since 2023 it has run a smaller, more focused mortgage business, exiting correspondent lending and aiming its retail team mainly at bank customers and underserved communities.
From our independent reviews of Chase and Wells Fargo.
How to check Chase and Wells Fargo before you choose
- Get both Loan Estimates the same day, with the same lock period and points, and compare section A (origination charges) and the APR.
- Ask each loan officer how many loans like yours they closed last year; the two lenders' mixes are similar, so individual experience is the tiebreaker.
Benchmark both quotes against today's average rates and run the payment in the payment calculator.
Chase vs Wells Fargo: FAQ
Is Chase or Wells Fargo better for an FHA loan?
Neither stands out: FHA loans were 1.8% of Chase's 2025 lending and 3.1% of Wells Fargo's, against 13.2% nationally. If FHA is your plan, also get a quote from a lender that does more FHA volume.
Where does Chase lend more than Wells Fargo?
Chase reported more 2025 HMDA activity than Wells Fargo in 50 of 51 states, and Wells Fargo led in 1. Chase's biggest relative edge is in Ohio.
Does Chase or Wells Fargo get more complaints?
Since November 2025, consumers filed 736 mortgage complaints about Chase and 1,187 about Wells Fargo with the CFPB, not adjusted for how many loans each services.
Which is better for refinancing, Chase or Wells Fargo?
Neither is clearly more refinance-focused: refinances and cash-out refinances were 28.4% of Chase's 2025 loans and 30.8% of Wells Fargo's.
Independent comparison from public federal data; no lender paid for placement. Not personalized advice.
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