Wells Fargo Bank provides checking account and savings account services, credit cards, student loans, business loans, and other banking products and services. Wells Fargo Home Mortgage, its home loans division, finances home buying and home building nationwide. The company offers several financing options for home buyers as well as refinancing services and home equity financing.
Wells Fargo provides financing for new constructions. When you finance your new home building project through Wells Fargo, you work with a mortgage consultant and builder home financing team who specialize in new construction loans and fully understand the unique nuances of the new home building process.
Additionally, the company’s Builder Best Extended Rate Lock program locks down a range of interest rate for up to 24 months on a number of loans, protecting you with a grace period during the construction process (for a fee) should rates skyrocket.
Borrowers have low down payment options with Wells Fargo. You can get a conventional fixed-rate mortgage with a down payment as low as 3 percent. Be aware that with a low down payment, you'll need to purchase mortgage insurance, which increases the loan cost and monthly payment. And, as always, eligibility is dependent upon loan amount, loan type, and property type.
FHA (Federal Housing Administration) loans have low down payment options, too, with rates as low as 3.5 percent and you can often use a gift or grant for the down payment and closing costs. This, too, requires purchasing mortgage insurance.
VA (Department of Veterans Affairs) loans offer low- and no-down payment options for eligible service members and veterans and unlike conventional and FHA low down payment loan requirements, you don't have to worry about mortgage insurance.
Wells Fargo offers a wide variety of loan options, including 30-year, 20-year, and 15-year fixed rate mortgages, 5/1 ARM (adjustable-rate mortgages), 30-year fixed rate VA loans, and 30-year fixed rate FHA loans. In some cases, borrowers may be able to customize their loan.
In addition, the company offers refinancing and funding to pay for repairs and renovations.
Wells Fargo offers home equity financing. Pairing a home equity line of credit with fixed-rate or adjustable-rate mortgages can give you payment flexibility. A home equity line of credit also has potential tax benefits: in some cases you can deduct the interest used to improve, buy, or build a home with home equity financing.
Wells Fargo makes it easy to apply for, access, and manage loan information and other account details from a computer, tablet, or smartphone with its online account system and mobile app. The mobile app is compatible with iOS and Android devices. While Wells Fargo has thousands of brick and mortar locations throughout the country, the home loan application can be completed in full online.
In addition to the company’s online system and app, many customer reviews speak highly of customer service received. Customer service reps are described as being friendly and helpful people.
Wells Fargo has not disclosed origination fee or other cost information on its corporate website.
Consumers should be aware that in 2016, complaints regarding the company’s practice of overcharging for appraisals was brought to light in federal court.
Closing costs with any mortgage vary by loan amount, type, and location, but borrowers should check for and question fees that are not clearly explained by the lender.
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we have previously used Wells Fargo and never had any issues. when we were with them all contracts were clearly explained and if we had any questions there was always someone who could answer it for us. it was nice to have a branch near by that we could go into if needed.
We love wells fargo! They are super conservative, but they offer good products and they won't try to tell you you qualify for bigger house then you can afford.
The experience did not feel personable and i was not impressed with the customer service
Wells Fargo has been very professional and trustworthy with my home loan. The process was straight forward and easy.
Love working with Wells Fargo. Many services available to help with all financial needs. Competent and friendly staff to help you navigate the loan world along with making long term investment decisions.
I have had no issues with my loans through wellsfargo. Seems a bit impersonal, but they get the job done.
Wells Fargo purchased my loan from a different mortgagee so I wasn't able to choose to go through them. They are very friendly at the window and helpful when needs arise. They do a good job trying to cross-sell you to other products they offer, personal and business banking, credit cards, etc.
Before getting a mortgage through Wells Fargo I thought that all mortgages were the same. This for sure wasn't the case with Wells Fargo. They seemed to go above and beyond what was necessary just to make things great. Their closing costs were very competitive and fast. Use Wells Fargo for your next home loan.
We have had a home loan with Wells Fargo Home Mortgage for over 17 years. Before that, we had another home loan with them for 10 years. We have been loyal customers. However, suddenly, they sold our mortgage to another mortgage provider. I know this can be a common practice, but it has caused some problems and after being with them for so long, it came as quite a surprise.
We stay with Wells Fargo because we have been with them for over a decade but we’ve never felt like they care about us. They try to sneak in redivulous little fees that we go in and ask to have removed and they remove or refund them. Basically they probably make tons of money off people not paying attention
several years ago we were looking to re-fi our home loan and did quite a bit of research with a Wells Fargo rep. while most everything they offered looked great, what it came down to was interest rate and they just couldn't offer us a rate that worked for the time frame we needed it.
Service is always good. I don’t have to wait forever when I call and they have a great app
Great experience with Wells Fargo.Easy application, fast closing and low fees. Probably the best home loan experience I have ever had. Use Wells Fargo if you are looking for a home loan.
So grateful for Wells Fargo. Able to finance our home after months of trying other options. Wish we would have started there.
I have had several home loans through Wells Fargo. They were very easy to work with. They sold our loans quickly, but were pleased how quickly our paperwork went through to qualify.
We have been a customer of Wells Fargo Bank for, at least 50 years. They have always provided excellent service to us regarding our checking, savings, credit cards, debit cards, home mortgage and our reverse mortgage. We have very little complaints about any issues that may have come up. When there was and issue, it was immediately resolved to our satisfaction. We have been very pleased with their service.
I have a mortgage with them and they have been fine to work with. I appreciate their help
Not a fan of Wells Fargo Home Loan’s because they have too many hidden fees and their Customer Service is terrible.
Highly competitive interest rates and closing costs. We had a great experience with Wells Fargo in obtaining our home loan. The loan officer really knew what she was doing and the process was much easier than other experiences he had in the past. I would highly recommend Wells Fargo to anyone looking for a new home loan or a refinance.
Great company to use for your mortgage. They have easy online bill pay. We had a slight mix up one month with our mortgage payment and one quick phone call later, everything was made right with no penalty.
Honestly, the best part of the home loan wasn't the rate but rather that it fully integrated into the Wells Fargo app. I was able to see my checking, savings, and mortgage balance.
What can i say we have them on both our mortgages and they do great. We do our job and they do theirs and without them we wouldn't have a house!
The service overall is alright. Trying to get a hold of my loan officer was a little tricks but never really affected the overall.
I did a home loan with Wells Fargo a few years ago and everything they "said" was not represented correctly. I'm not even sure how they did what they did, but buried in the new loan was a bunch of hidden fees and things nobody in their right mind would want. My bad for not having a lawyer present to read the documents with me, but my goodness. What is this world coming to if you cannot trust a company to be ethical? I know I wasn't the only person Wells Fargo scammed out of money, but it felt really personal.
I had a home loan with Wells Fargo for 8 years on a previous home. The thing about Wells Fargo that I feel set them apart was their customer service. They were ALWAYS helpful when it came to any of my questions or concerns. I also had the opportunity to refinance at a lower rate. The process was made much easier than I would have expected and they actually did a few things that ended up saving me more money than they had quoted. Overall a great experience.
I think Wells Fargo Mortgage department has too many fees and are dishonest. Our family prefers credit unions.
can i just say how much i love wells fargo! we were trying to put a down payment on a house and they were so great to work with!
When it comes to home loans Wells Fargo is the way to go . They always are there to help me with any concerns and help me feel at home with no worries. The staff is very helpful and pleasant! Love them!
I feel comfortable taking a loan with Wells Fargo. The loan interest isn't ridiculous, so it's not hard to pay back. I've been able to pay my loans without any trouble.
Wellsfargo is one of the hardest banks to work with and makes it very difficult to get approved for a home loan, not to mention they are way sketchy!
Took time to answer questions, evaluated our needs well and gave us honest directions to our future plans. Pleasant staff
Wells Fargo was a great home loan on our previous home out of state. It was very easy to make payments online and keep track of the interest paid each month.
Wells Fargo has managed our home loan for the past 3.5 years and we have had no issues. The process is simple and their monthly, quarterly and annual statements are easy to understand.
Great company easy to use. When another company offered a lower rate all we had to do was call and they match the rate with only one paper to sign.
We used Wells Fargo to finance our home loan for our second home. We love the customer service we receive and would not want to bank with anyone else.
I would not recommend using Wells Fargo for any type of loan! Poor response time from agents and many promises from them not kept!
Wells Fargo is pretty great. Every time I've been, I have gotten excellent customer service. The people there are truly there to help meet your loan needs and do what they can in your best interest.
have good costumer serve and are great with loans. Have had a great experience with them!!
Our mortgage was through Wells Fargo. When I received a refinance offer from another company that was good for us, I called up Wells Fargo to see if they could match it and save us the time and hassle of loads of paper work to refinance. Not only did they match it, I only had one paper to fill out which I was able to do right on my phone. Simple, easy, and a great value.
Our Wells Fargo home loan has a little bit higher interest rate, but I am okay with paying it because I really like the stellar service that we receive.
Worst ever. Changed rate illegally on a HELOC that was part of closing, but we realized after that they'd conveniently left the rate off of the legal docs, it was only on the quotes. At sale of home had unusual situation with corporate move and purchase of our unsold home. Spent several weeks going in circles - hours on the phone. It literally became a full-time job for about an entire week. All day on the phone or camping out at the bank or mortgage office. NEVER AGAIN.
They helped us get a 1st and 2nd mortgage for our first home. When we had a setback financially they were kind and gave us extra time to try and get caught up.
When I talked to a rep inside the bank about my account, I got one answer, when I called a rep I got another answer. Couldn't get the information I needed and was glad when I could finally pay off my home loan and be done with them.
Great customer service! Checking, savings and home loan all at Wells Fargo. No issues so far..
I would not recommend Wells Fargo. I had an account with them, a car with them and a home with them. I have cancelled all of them. I was behind on my car payment and I called to make arrangements. They would not work with me. Instead, they went into my bank account and removed the funds without authorization. When I asked them to fix this they refused. I also lost my home because of them. I tried to work with them during a slow time in employment and either refinance or adjust my loan, put the past due on the end of the loan, or find someway to save my home. They refused to work with me and basically told me they would rather take the home than try to help me and my family out. We lost our home and were forced to move.
Overly thorough application process was cumbersome. Had some difficulty getting title cleared when loan was paid off.
Have had some bad experiences with their tellers. Ad that to what they did to our country, I will not use Wells Fargo again.
We have our home loan through Wells Fargo. They are a great company to work with... After several years we decided we wanted to refinance our home... They set us up with a loan officer and he was super sufficient in helping through the entire process! He was very helpful with all our questions and he knew what he was doing... I was very thankful for his expertise....
We attained a smart fit home equity line of credit, which was essentially a second mortgage on our home. It was nice to be able to draw out money when we needed it for home improvements instead of in one big lump sum.
When my husband and I were buying our first home, we were shopping around for where we wanted to get our mortgage loan. We decided on Wells Fargo because of the way they helped us through the process. They explained every step and made us confident in the purchase of our new home. Excellent service.