Your credit history
Why your credit rating is so important
When you apply to refinance, we'll review your credit history and credit score. Your credit score is a number used to summarize your credit report and help us determine your likelihood to repay the loan.
How to get your credit score
Before you start shopping for a refinance, you should get a copy of your credit report. Your credit report will be created by one of the major credit reporting agencies:
Use Credit JourneySM to monitor your credit health
Staying up to date with your credit information is important, which is why our free Credit Journey service offers:
- Unlimited access to your VantageScore and credit report
- Alerts about critical changes to your credit report
- A score simulator that helps you identify how your credit is affected by changes
Please note: Your VantageScore is an informational credit score and may vary from a FICO® Score provided by credit reporting agencies. Decisions about your home loan application will be made by using your FICO credit score as well as other information you provide.
Credit History: One Part of the Big Picture
When you order your credit report, keep in mind that your lender has a sense of proportion. At Chase, we realize that everyone, at one time or another, has had trouble making a payment on time. Late payments under 30 days shouldn't automatically disqualify you from getting a mortgage. We also understand that many people may find themselves in difficult financial situations due to illness, divorce, temporary unemployment or other extenuating circumstances.
Although your credit history is important, it's still just one factor in our decision to approve your refinance. If you can demonstrate that your credit problem is in the past and you've been able to re-establish a good track record, speak to us openly and honestly about your situation. We’re happy to work with you to evaluate your current credit profile and determine what home financing options best suit your particular needs.
Ready to refinance your mortgage?