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236 User Reviews

6.0

Overall Score

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

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Wells Fargo Mortgage Highlights:

  • Unique loan options — new construction loans and home equity loans
  • Minimum down payment — 3%
  • Fixed rates — 2.125%–2.625% (2.271%–2.744% APR*)
  • Adjustable-Rate Mortgage (ARM) range — 2.000% (2.565%–2.510% APR*)
  • Jumbo loan fixed rate — 2.625%–2.875% (2.704%–2.909% APR*)
  • Jumbo ARM loan range — 2.375%–2.250% (2.588%–2.576% APR*)

*Use the annual percentage rate (APR) range to compare rates across lenders. This rate includes fees and costs.

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

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The Good

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.

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. 

Several Loan Options

Wells Fargo offers a wide variety of loan options: 

    • 30-year, 20-year, and 15-year fixed rate mortgages
    • Adjustable-rate mortgages (ARMs)
    • 30-year fixed rate VA loans
    • 30-year fixed rate FHA loans
    • USDA loans
    • Fixed-rate jumbo loans
    • ARM jumbo loans

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

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.

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. 

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.

Online Convenience

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.

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The Bad

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. 

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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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If you have financed or refinanced your home with Wells Fargo, please tell us about your experience by leaving a review.

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Star Rating

3.8

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236 Reviews

Review Breakdown

5 grade

41%

4 grade

27%

3 grade

12%

2 grade

7%

1 grade

13%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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James Moss Pella, IA

Wells Fargo bought my mortgage and has always been honest with me. I was going to refinance with Rocket Mortgage, and they said I could as it would make financial sense, but later told me no. I checked with Wells Fargo as I was waiting to go with Rocket Mortage and Wells Fargo said no that could not help. Not a problem but, with Rockit Mortgage I got another hit on my credit report.

1 month ago

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cj thor Greenville, SC

Wells Fargo handled our loan very professionally. Their customer service is EXCELLENT. When it was time to pay off the loan, they made the process simple and pain free !! Would not hesitate using them in the future for our financing needs.

1 month ago

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Hemant Ramachandran Santa Clara, CA

I have used Wells Fargo for many years. Overall, a very good bank. The staff have been very professional, efficient, and quick to respond. Whenever I have seen the staff in person or have a phone call, they get the job done in a timely manner.

1 month ago

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Alaskan Bev Chugiak, AK

My first experience with Wells Fargo banks began about 15 years ago. My best buddy was traveling to Canada and wanted some Canadian money for exchange so I opened a savings account at Wells Fargo since that was the only bank we discovered that offered exchange services. About six years ago I learned that my husband had not been making house payments in the same manner I would have, so I cashed in four savings accounts and a couple of CDs and went in to pay off our home and property. From the moment I entered, I was met with the utmost of courtesy, professionalism, and respect. My transaction went smoothly, the paperwork was easily completed, and I was congratulated as I left. (This was the first time I have made such a purchase and I had never thought about being congratulated for it.) I also purchased some expensive necessary medical equipment three years ago; Wells Fargo worked out an easy payment plan with my prescriber so that a certain amount was withdrawn from my savings account on autopay - with zero percent interest for three years! This made my medical care affordable with no hassle whatsoever. Way to go, Wells Fargo (and Dr. M).

8 months ago

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Matthew Easterbrook Paso Robles, CA

I have had multiple home loans with Wells Fargo Mortgage. They have always had good rates, easy to work with, and great customer service.

1 month ago

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Mercedes Rifle, CO

My spouse and I were in the process of purchasing our first home and were comparing rates to make sure that we were getting the best rate possible (we get an employee discount through Alpine Bank). I reached out to Wells Fargo and asked them about their lending policies and asked to get a quote. TJ D (Thomas D) reached out to me and we began working together. TJ was amazing with his customer service and I was amazed at how quick he was to respond to all my questions and update my quotes. He was very patient with me as I was waiting for our Alpine Bank originator to get back to me with our final numbers and get him an answer on whether or not we would be moving forward with him. He was on top of it the whole way through and had everything ready to go in case I decided to go through them. He was by far the best lender to work with out of the three that I was comparing rates with. Thank you TJ for all your hard work and making me feel like an important customer.

2 years ago

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Rogers Family Salt Lake City, UT

My mother and myself have accounts with Wells Fargo and we love them. There ATMS are everywhere and give multiple different amounts. Online banking is easy to use and our business is appreciated

4 months ago

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Peter Harmatuk Columbia, MD

Was a former mortgage customer for nearly 20 years. Never had any issues dealing with the company. Their website was easy to use and they serviced my mortgage and equity line of credit well.

4 months ago

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Cindy H Gilbert, AZ

We had our home mortgage through Wells Fargo and it was a wonderful experience. We never had any complications. The customer service was great. I liked that it was with a bank that i was already banking with so i could go to the bank with questions or payments.

6 months ago

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Gilbert Cortes Deltona, FL

The bank to have in your pocket is here to serve. These guys are one of the best customer service firms by far. The welcome greeting and friendly smile invite all to feel in a trustworthy bank. They go out of their way to accommodate and fix any issues with fund availability and speedy service that feels great in the wallet. It is nice to have someone on our side when we travel or at home. Keep up the good work.

10 months ago

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Eric Asare-budu Mechanicsville, VA

Wells Fargo serviced one of my Mortgages and they were really helpful. they communicated with me frequently about my loan with updates, changes. The website makes it very easy to make your payment and i will recommend them.

6 months ago

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A. Taylor Panama City, FL

I last used Wells Fargo mortgage services a few years ago. They were the most straight-forward and easy to use that I have ever had. Simple, reliable customer friendly servie at it's best.

8 months ago

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Kent Logan, UT

We recently refinanced our home to take advantage of historically low interest rates and Wells Fargo became our loan servicer. So far, everything has been smooth and straightforward after several months of mortgage payments.

8 months ago

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John Garcia Albuquerque, NM

I have been a Wells Fargo customer for about 30 years. I have about 9 different accounts with them. They have always treated me with respect and fairness. I would recommend to anyone.

8 months ago

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Victoria L Moorman Indianapolis, IN

I love the customer service. The willingness to Provide you with all the tools you need to live And remain in your home, during difficult times. And happy with you when you sore again, and prosper. I love Wells Fargo Home Mortgage. Thanks

1 year ago

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Amy Stewart Gilbert, AZ

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!

3 years ago

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Joanna Hester Gilbert, AZ

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.

3 years ago

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Nancy Kreigline

I feel like I got a great deal on my mortgage loan. The cutomer service department has always been excellant. I am able to go online at any time & check on any tax payments or balances remaining & I can also print out any forms I may need.

3 years ago

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Matin Midlothian, VA

This is about W.F. Home Loan. They have the best customer service that are always there to answer your question. Just an FYI, I refinanced through another mortgage company who sold the loan to W.F. (W.F. like other banks doesn't always have the lowest rates with zero fees).

10 months ago

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Tiauna Anderson Sandy, UT

My husband and I just refinanced our rental property and had the easiest time processing through Wells Fargo. We got a great rate and our closing went off without a hitch. I was grateful we chose a bank that had the process down to such a science!

10 months ago

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Amy Provo, UT

I haven't had any issues. They've been great about walking me through terms.

1 month ago

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Ashley Pleasant Grove, UT

My husband and I were seeking a good Mortgage rate to refinance our home. We were very happy with Wells Fargo. The loan officer took a look at our financials and credit history and helped us secure a very reasonable rate. We have had no issues with the rate changing on us. If any issues every arise there is never a long wait on the phone to talk to someone. In fact we get a call every 6 months or so to make sure that we are satisfied with everything they are doing.

2 years ago

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Viva Bird Springville, UT

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.

2 years ago

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Rischelle Mikkelson American Fork, UT

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.

2 years ago

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Anna Hu 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.

3 years ago

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Tom Pleasant Grove, UT

Wells Fargo is a very trustworthy bank. They will treat you like a valued customer and are very knowledgeable about different products that would be best for you and your situation.

3 years ago

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Cynthia Putnam, CT

I absolutely love Wells Fargo. They have been better than any other mortgage company that we have had. They are there for you and customer service is awesome. I feel like they actually care about me as a customer.

9 months ago

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Dave_ Layton, UT

My mortgage is with Wells Fargo. They have provided good customer service to me. They fixed an error in the processing of my payments and have been great to work with when I call them.

10 months ago

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Jon Moreno Sandy, UT

We have had our mortgage and credit cards with Wells Fargo they have always been great to work with and their app is so easy to use to make sure payment are set up on time and properly!

10 months ago

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kristin Gneiting Pleasant Grove, UT

Did my home loan through Wells Fargo. They didn't have a ton of hoops to jump through and it was quick and easy. They gave me a great rate and it closed on time and I was able to move into a home that I love with the great feeling that I was set for the long haul.

1 year ago

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Brennan Orem, UT

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.

2 years ago

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Lindsey B Orem, UT

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.

2 years ago

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Kimberly Maddock 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.

2 years ago

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Benjamin Taliulu 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.

2 years ago

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brandon bingham West Jordan, UT

Very easy to refinance my home. Great offer that saved me a lot of money. I would definitely use them again.

5 months ago

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janet Stroudsburg, PA

they were very helpful. My first time buyer and it went thru fairly easy. I was at my last nerves and anxious to get a home.

7 months ago

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Thomas Hullinger Pleasant Grove, UT

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.

2 years ago

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Reese Pleasant Grove, UT

I have had a mortgage through Wells Fargo in the past and it was a great rate, easy to qualify and low closing costs. They are easy to keep track of and make payments to and the online capabilities is amazing.

2 years ago

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Amanda Olsen Eagle Mountain, UT

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.

2 years ago

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Brody B Orem, UT

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.

2 years ago

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Ann Bailey Lehi, UT

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.

2 years ago

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Kathy Jo Jorgensen Orem, UT

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.

2 years ago

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Kaitlyn G. Vienna, VA

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.

2 years ago

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Ella American Fork, UT

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.

2 years ago

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Bob Conley 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.

3 years ago

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Raven Trujillo 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.

3 years ago

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Michael Stewart Atlanta, GA

My mortgage application process was quick and easy. They are always willing to half you in the branch.

7 months ago

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Sue

No problems ever. Periodically they run programs where we use their credit card and have the bonus points applied to our mortgage.

1 year ago

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Jennifer S.

They had several people following progress on my mortgage; feedback was quick and excellent; the whole process was very smooth with their guidance.

3 years ago

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Ric Powers Port Clinton, OH

Have a home loan with Wells Fargo (2nd loan to date) and they have been professional and their on line technology works and is easy to access!

9 months ago

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