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Wells Fargo Bank provides checking account and savings account services, credit cards, student loans, personal loans, business loans, reverse mortgage programs, and other banking products and financial services. Wells Fargo Home Mortgage, its mortgage lending division, finances home buying and home building nationwide.

The company offers several financing options for home buyers as well as existing mortgage refinancing services and home equity financing for homeowners. When you apply for a loan with Wells Fargo, you can track your application as well as current interest rates online as you wait for approval. Once you're approved, you can manage your mortgage account with enrollment in Wells Fargo Online using your bank's account number and routing number.

Wells Fargo mortgage reviews give the company a 3.5/5 star ratings for trust, customer service, and value.

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The Good

  • New Construction Loans  
  • Low Down Payment Requirement  
  • Several Loan Options 
  • Home Equity Financing 
  • Convenience and Customer Care  

New Construction Loans

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.

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.

Low Down Payment Requirement

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.  

Several Loan Options

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.  

Home Equity Financing

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. 

Convenience and Customer Care 

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.  

The Bad

  • Unknown Fees 

Unknown Fees 

Wells Fargo has not disclosed origination fee or other cost information on its corporate website.

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. 

Similarly, interest rate and annual percentage rate (APR) will vary depending on the borrower's credit score, debt-to-income ratio, money set aside for a down payment, mortgage program chosen, and other individual financial factors. Make sure to discuss your options and all loan terms in detail with your loan officer. 

The Bottom Line

Wells Fargo is a top candidate for borrowers’ mortgage servicing needs, especially for new constructions in real estate thanks to the company’s Builder Rate Lock program. The company funds all major loan types, refinancing, and home equity products and services.

The company has experienced some negative press because of a fraud scandal and subsequent problems with the U.S. Federal Reserve in recent years. However, as questionable practices are being cleared up, the majority of Wells Fargo reviews from mortgage customers are positive.

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User Reviews

Star Rating

3.8
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164 Reviews

Review Breakdown

5 star
38%
4 star
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3 star
12%
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1 star
13%

Sentiment Criteria

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Jason Pyrah
November 5th, 2018 Willard, MO DETAILS
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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.

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Lynn White
November 5th, 2018 Gilbert, AZ DETAILS
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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.

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Amy Leifi
October 30th, 2018 Orem, UT DETAILS
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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.

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Dylan Curtis
October 30th, 2018 Pleasant Grove, UT DETAILS
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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.

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Sheryl Sabal
October 24th, 2018 Gilbert, AZ DETAILS
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Great customer service! Checking, savings and home loan all at Wells Fargo. No issues so far..

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Brian High Duncan
October 24th, 2018 Queen Creek, AZ DETAILS
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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.

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Steve schramm
October 16th, 2018 Salem, UT DETAILS
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Overly thorough application process was cumbersome. Had some difficulty getting title cleared when loan was paid off.

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Matt
September 26th, 2018

Have had some bad experiences with their tellers. Ad that to what they did to our country, I will not use Wells Fargo again.

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Sofie Rosenvall
September 19th, 2018 Alpine, UT

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....

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Amber Hawkes
September 18th, 2018 Saratoga Springs, UT DETAILS
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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.

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Kimberly Maddock
September 17th, 2018 Pleasant Grove, UT

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.

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James Quick
September 13th, 2018 Queen Creek, AZ

Loan was established by financial service. Percentage rate is very competitive.

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Benjamin Taliulu
September 13th, 2018 Salt Lake City, UT

Been with Wells Fargo for my mortgage for the past 5 yrs never had any issues. Had a situation where there was a mix up in how my payment was applied and when I called they took care of it right away. Fast and friendly customer service.

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Shanna
August 30th, 2018 South Jordan, UT DETAILS
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This company is AWESOME! We've been with them for a year now and the customer service has been great.

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Kristiane R Durfey
August 28th, 2018 Pleasant Grove, UT DETAILS
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I have been with Wells Fargo for about 15 years and they have been very good to work with. We have linked accounts for our children which makes it easy for us to transfer funds in between accounts. The home loan we had for a short time was at a competitive percentage rate and we were pleased with the process.

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Darluap
August 27th, 2018 Pleasant Grove, UT

8 years as home loan customer and no issues with their customer service, products or reliability.

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Thomas Hullinger
August 27th, 2018 Pleasant Grove, UT DETAILS
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Wells Fargo is a well respected bank that gave me the loan I needed, quickly and at a great rate. They are wonderful and I will be back for my next loan.

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Lesa Burgess
August 24th, 2018 Pleasant Grove, UT

I was a first time homebuyer when applying for a loan with Wells Fargo. I felt WF offered a full range of both traditional as well as other specialty mortgages. I went with the traditional and because I was a first-time homebuyer, they had a program that allowed me to put down a downpayment of 3.5%. I think the lowest I could do, as a first time homebuyer, was 3%. At the time, WF did require a minimum credit score of 620, which was not a problem for me but could be for others applying with them. I know in 2016, WF had an embarrassing corporate setback, but with my dealings with them, I had a great experience.

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Kris
August 23rd, 2018 Pleasant Grove, UT DETAILS
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I highly recommend Wells Fargo. They are willing to answer any questions you have whether great or small, and have a great response time in getting back to you.

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Becky Rasmussen
August 20th, 2018 American Fork, UT

If zero stars were an options, I would have selected zero. Wells Fargo nearly caused complete financial ruin for our family when the housing bubble collapsed in 2007. My husband and I unsuspectingly found ourselves in a mortgage with a variable interest rate. Our loan office told us it would never rise above .5% above prime and capped at 7%. When our payment jumped from $900/month to $2700 I was forced to quit my post as a stay-at-home-mom and get a full-time job. We immediately placed our home for sale and received offers above and beyond the loan balance and cost of realtor fees. Wells Fargo refused the offers because they had built a pre-payment penalty into our loan. The pre-payment penalty was $68,000. When we provided evidence that our initials were not on the mortgage document pages that reviewed the pre-payment penalty they refused to concede. We did not have the money to hire a lawyer and fight them. Ultimately, we had to pay outrageous prices until the Federal government forced banks to quit predatory lending practices. Once the pre-payment penalty period ended we refinanced with another lender.

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Dave Brinton
August 20th, 2018 DETAILS
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They were slow to respond until rates started to rise

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Bella Houtz
August 17th, 2018 South Jordan, UT

We held a mortgage for many years with Wells Fargo. Could not wait to refinance and get away. Horrible customer service reps who lacked training.

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Sepi
August 16th, 2018 Salt Lake City, UT

Awesome job especially their customer services

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Cheryl Linden
August 1st, 2018 Cave Creek, AZ

very easy to work with; statements are easy to read

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Katherine Smith
July 27th, 2018 Salt Lake City, UT

Helped us take out a personal loan. Great service and was able to help us without specific needs.

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Darci Jensen
July 27th, 2018 Alpine, UT

I’ve only had to call customer service a couple of times but both times they failed to get me what I needed.

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Anna Hu
July 23rd, 2018 Provo, UT

I have been a Wells Fargo customer for the last 5 years and have had nothing but positive experiences. Every time I've needed help with something, it has been resolved with a simple and short phone call. I've met with representatives in the office multiple times regarding setting up loans or new accounts and they have been extremely helpful and thorough with walking me through each process.

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Sara Jane
July 19th, 2018 Crestwood, KY

The online portal is easy to use. We have been a customer for 10 years now. They are reliable and safe.

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Conrad Brian
July 19th, 2018 Gilbert, AZ

Good customer service. Very easy to process our loan. They worked great with our builder.

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Bob Conley
July 19th, 2018 Crestwood, KY

They have never sold my home loan. We pay our mortgage on-time with a little bit extra. We have not gotten much extra for that, but when we have had questions, they have been quick to respond.

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Tyler Williams
July 16th, 2018 Gilbert, AZ

I used Wells Fargo for my home loan. Customer service was great and anytime I had a question, the representatives seemed to always have an answer for me.

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Kristy Williams
July 16th, 2018 Gilbert, AZ

We used Wells Fargo for our home mortgage. They were easy to work with and had great customer service. I would recommend them for your next home loan.

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Brian McNamara
July 11th, 2018 Gilbert, AZ

I have my mortgage with Wells Fargo and they have done a good job servicing my account.

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Danuel Allen
July 11th, 2018

We used to have to mail in our payments or pay at a branch. So nice to have everything automated online.

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Raven Trujillo
July 9th, 2018 Gilbert, AZ

We have been with Wells Fargo for over 5 years and are happy with the service they provide. Their App is user friendly and makes making our mortgage payment and viewing our statements easy.

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Amy Stewart
July 6th, 2018 Gilbert, AZ DETAILS
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We have banked with Wells Fargo for over 20 years and love their services. We also have our home loan through Wells Fargo. They are very competitive on their interest rates. Overtime we go into the bank the workers are always helpful and friendly towards my and my family. I don't plan on changing who I bank with!

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Blake Olson
July 6th, 2018 Gilbert, AZ

We have had our home financed through Wells Fargo for the past 12 years. In 2012 we refinanced to a 15 yr loan. They handled the process smoothly without any issues. We haven't had any issues with Wells Fargo's service during this entire time and would recommend them to anyone buying or refinancing a home.

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Trent Allen
July 6th, 2018 Queen Creek, AZ

The process of setting up the loan was easy. In the end, we had some financial difficulties and they worked with us through the entire process.

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MWest
July 6th, 2018 Queen Creek, AZ

Had a home loan with them. Easy online payments was great!

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michelle l pierce
June 26th, 2018 Gilbert, AZ

Good customer service in the branch, Sometimes a little hard to get things done over the phone

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Alicia Holman
June 25th, 2018 Gilbert, AZ

I've multiply clients that have used Wells Fargo for their home loans and it's been a very difficult process for them. The communication between departments usually breaks down and the buyer is left to figure out what to do on their own.

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Joanna Hester
June 18th, 2018 Gilbert, AZ DETAILS
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We have a Wells Fargo home loan on our first home which we turned into a rental property. We have used them for 15 years. I had to contact customer service with questions about our loan and when our mortgage insurance would fall off. They were always very helpful and went above and beyond to answer my questions.

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Donna
June 8th, 2018 Tulare, CA DETAILS
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They are ok but in 16 years one late payment due to family illness,paid day after grace period.Was charged late fee of$46.00.I called to explain that I do online bill payment adn sent mortgage payment to a utility company in error.I am looking to refinance because this was plain old not nice of Wells Fargo to ding me when I am taking care of a family member with cancer and am very stressed.

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Caryn Croes
June 8th, 2018 Spring, TX DETAILS
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They are pretty good and easy enough to work with.

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Kristin
June 5th, 2018 Pleasant Grove, UT DETAILS
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We have our home loan through Wells Fargo they were able to give us a great rate I would highly recommend them.

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Nana Asiata
June 4th, 2018 Herriman, UT DETAILS
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Wells Fargo is an awesome bank. They're friendly and always welcoming.

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Dominic Richard Glass
June 4th, 2018 Rancho Cucamonga, CA DETAILS
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ease of payment and account access, online app is great

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Dorothy
June 4th, 2018 DETAILS
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Charged fees that they should not have. Are unwilling to help customers that are having trouble making payments.

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Jennifer S.
June 4th, 2018 DETAILS
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They had several people following progress on my mortgage; feedback was quick and excellent; the whole process was very smooth with their guidance.

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William R Feerick
June 4th, 2018 DETAILS
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They have been overall very understanding during a period in my life when I was having difficulties.