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254 User Reviews


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LAST UPDATED: October 15th, 2021

In addition to traditional banking and loan services, Wells Fargo finances home buying and home building nationwide through its mortgage lending division.

Wells Fargo 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 mortgage loan you can track your application as well as current interest rates online as you wait for approval. Once you're approved, you can easily manage your account online upon setting up a Wells Fargo account.

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

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Customer Review: Brian Elligson from Winchester, Kentucky

"I've always had a good experience with Wells Fargo. They do the standard practice of buying and selling mortgages which can be a little confusing at times, but overall the process is user friendly. I've always had great chats with customer service and never found it difficult to get ahold of someone to talk to."

Continue reading for a full review of this mortgage company, as well as Wells Fargo mortgage reviews from real customers.

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The Good

Several Loan Options

Wells Fargo offers a wide variety of loan options: 

  • Fixed Rate Mortgage Loan
  • Adjustable Rate Mortgage (ARM)
  • FHA Loan
  • VA Loan
  • USDA Loan
  • Jumbo Loan (fixed and ARM)

In addition, the company offers refinancing and funding to pay for repairs and renovations. 

New Construction Loans

Wells Fargo provides financing for new home constructions, an option not offered by all lenders in the industry. When you finance your home building project through Wells Fargo, you work with a mortgage consultant and builder home financing team that specialize in new construction loans.

Additionally, the company's Builder Best Extended Rate Lock program locks down an interest rate range 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 suddenly increase.

Mortgage Refinancing

In addition to mortgage financing services, Wells Fargo provides mortgage refinancing and even offers a cash out refinance option. It is important to note that cash out refinancing may not be the best option for everyone, but it can open up funds for other purposes as the borrower gets a new mortgage with a higher loan amount, allowing them to access their home equity.

If you are interested in refinancing your mortgage, speak with a Wells Fargo consultant to see which options might be the best for you.

Home Equity Financing

Wells Fargo offers home equity loan financing, which can offer payment flexibility if paired with a fixed-rate or adjustable-rate mortgage. 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. 

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, much lower than the standard 20 percent down payment that is common in the industry. 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. 

Federal Housing Administration (FHA) 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. 

Department of Veterans Affairs (VA) loans offer low- and no-down payment options for eligible service members and veterans. And, unlike conventional and FHA loan low down payment requirements, you don't have to worry about mortgage insurance. 

Competitive Mortgage Rates

Mortgage rates are constantly fluctuating based on the condition of the housing market. Wells Fargo mortgage rates will ebb and flow with the market as well, but its rates are known to be competitively low. Those with a great credit score should be able to secure a low interest and APR rate for a conventional home loan at Wells Fargo.

Wells Fargo offers an online mortgage calculator which will be able to give you a first hand look of what your potential Wells Fargo mortgage rate would like if you decided to do business with them.

Online Convenience

While Wells Fargo has thousands of brick and mortar locations throughout the country, the home loan application can be completed in full online.

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.

In addition, you can easily track your mortgage loan application online through yourLoanTracker℠. This tool isn't available to use with all loans.

Mortgage Tools and Calculators

To assist homebuyers in the mortgage process, particularly first-time homebuyers, Wells Fargo has various tools and resources available on its website, including helpful mortgage calculators.

Wells Fargo offers the following mortgage calculators:

  • Mortgage Calculator
  • Affordability Calculator

If you have specific questions or concerns you can contact a Wells Fargo representative or connect with a mortgage consultant in your area.


The Bad

Limited Website

Wells Fargo's website can be difficult to navigate, and available mortgage information is limited. 

Unknown Fees

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

Closing costs with any mortgage will 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 loan options, including mortgage rates and all loan terms, in detail with your loan officer.

Recent Company Scandals

In recent years, Wells Fargo has been accused of opening fake deposit and credit accounts to meet excessive sales goals, in addition to wrongfully foreclosing on mortgage borrowers. In some cases, the company has been hit with large fines from federal and state government officials because of its harmful behaviors.

Wells Fargo has been putting all effort forth into recovering from these setbacks, but consumer trust has taken a hit.

Average Customer Reviews

Wells Fargo has average customer reviews, averaging around 3.5 stars for overall customer sentiment. This isn't necessarily bad, but it could indicate that the mortgage lending experience may not be consistent.

Positive reviews highlight: 

  • Value for your money
  • Quality of product or service
  • Customer service
  • Company trustworthiness

Negative reviews highlight:

  • A lack of flexibility when extenuating circumstances arise
  • Poor communication about their mortgage loan
  • Lack of transparency and confusing fees

However, Wells Fargo is a large mortgage lender with decades of experience which should give potential borrowers a feeling of security. 


The Bottom Line

Wells Fargo is a competitive choice for your mortgage financing needs, especially if you are a home buyer looking for a construction loan, which has added perks through Wells Fargo's Builder Rate Lock program. The company funds all major loan types, refinancing, and home equity products and services.

If you're already a Wells Fargo customer via a savings account, checking account, or credit card, it makes sense to at least look into Wells Fargo's mortgage options to see what rates you qualify for, as you will be able to manage all your finances from one place through your Wells Fargo online account.

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.

Wells Fargo mortgage reviews are equally positive and negative. Positive reviews highlight affordable and flexible loan options, but negative reviews often mention poor company communication and lack of transparency about fees. While customer sentiment may be swayed by Wells Fargo's recent scandal setbacks, it is important to weigh both the pros and the cons of what past customers have said about their experiences with this mortgage lender.

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254 Reviews

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Review Source

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Basil48 Ocean Isle Beach, NC

Wells has numerous offices and personnel handling their accounts. When used on an investment property in MD we had difficulties either refinancing or getting straight answers on questions. They tried to link in and/or have you obtain other services, such as credit cards, stock management, etc. Often personnel you had been dealing with where not available.

4 months ago


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Andrea Thomas Richland, WA

We did not end up with WF as there were so many fees and overall I don’t trust this bank for any of my financial services.

1 month ago

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Donna Tulare, CA

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.

3 years ago

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Laurie Trlak

Because I found them to be difficult to work with. Once when the 1st of the month fell on Labor Day weekend they called me because my payment wasn't in by the first. When I told the associate we had signed up for auto pay, and if the money hadnt been withdrawn on time it was their fault he hung up on me and didnt bother to apologize for the mix up. There wers other problems that we had with them but they were too many to list here.

3 years ago

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Cat Sussex, WI

I feel I was not treated well and that caused us to lose our house shortly after they bought out our mortgage, even though we had not missed a payment in 25+ years to the previous lending co. They did not foreclose but threatened it and we were forced into a short sale, leaving the home without many of our precious belongings.

1 year ago


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Craig Orem, UT

Years ago we went through Wells Fargo for a mortgage and it seemed like they did everything they could to make the process more difficult than it needed to be. The fees were also much higher than other mortgage companies so I wouldn't recommend them to anyone!

2 years ago


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Amy Leifi Orem, UT

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.

2 years ago

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Relia Scott Stafford, TX

I only have them because they did a refi years ago. I don't like the fact that they will not lower my interest rate despite NO LATE payments for YEARS.

1 year ago

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LSitze Round Rock, TX

My mortgage has been sold to/by Wells Fargo back and forth many times. Because they had my info when they were hacked, my information was compromised. It has made me nervous to do business with them ever since.

3 years ago

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Ruth Surprise, AZ

They wouldn't modify my mortgage when my hours at work where cut. I finnaly had to go through a government agency to make them modify the mortgage.

1 year ago


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Maria Oquendo San Juan,

It is a non- flexible mortgage lender when it comes to customer economic hardship

8 months ago


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

3 years ago

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Michael Monk

poor communication skills and very slow to update the changes in rates and policies.

3 years ago

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Robyn Middletown, NY

They were not the best rate and I moved my whole mortgage away from them for a much better rate

3 years ago


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Customer Saratoga Springs, UT

Not a fan of Wells Fargo Home Loan’s because they have too many hidden fees and their Customer Service is terrible.

2 years ago


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Lori Fletcher Saratoga Springs, UT

I think Wells Fargo Mortgage department has too many fees and are dishonest. Our family prefers credit unions.

2 years ago

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Darci Jensen 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.

3 years ago

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Diana Thompson Birmingham, AL

Just correspondence; the information has been informative and on time.

1 year ago

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