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Wells Fargo Mortgage

Wells Fargo Mortgage
Overall Satisfaction Rating 2.49/5
  • 5 stars
    26
  • 4 stars
    4
  • 3 stars
    5
  • 2 stars
    6
  • 1 stars
    55
Based on 96 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

Wells Fargo is a national bank with branches in many communities. Its services include home loans, mortgage refinancing and home equity loans. Explore mortgage information, affordability calculators and home loan shopping tools on its website. If you’re interested, apply online or talk to a Wells Fargo mortgage consultant in your area.

BOTTOM LINE

Wells Fargo mortgages are available for first-time homebuyers, repeat homebuyers and homeowners who want to refinance or access the equity in their homes. To apply, visit Wells Fargo online or at a local branch.

PROS

  • Easy online payment
  • Local representatives
  • Little or no money down options

CONS

  • Strict eligibility requirements

Top Wells Fargo Mortgage Reviews We Found

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Rated with 5 stars
Verified Reviewer

Once My Mother got sick from Stage 4 Lung cancer it had become extremely difficult for her to keep up with her payments. As her daughter it was My duty to be her advocate & to take care of her. ... Wells Fargo understood and worked with Us to make everything go smoothly. They cared unlike most Mortgage companies.

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Rated with 5 stars
Verified Reviewer

It was my first time buying a home and the customer service was outstanding. They answered every question I had. ... I wouldn't have known every step if it wasn't for the representative that helped me. Very patient and understanding and that made the whole process that much more memorable.

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    About Wells Fargo mortgages

    Wells Fargo offers multiple types of mortgage loans, including:

    • Fixed-rate loans
    • Adjustable-rate loans
    • Jumbo loans
    • FHA loans
    • VA loans
    • New construction and rural housing options

    To find information about Wells Fargo mortgages and apply for a home loan, visit its website or contact a mortgage consultant in your area. Wells Fargo mortgage account holders receive support from the company's specialists throughout the loan process.

    To apply for any mortgage with Wells Fargo, you need the following personal information:

    • Proof of income and/or employment
    • Credit score
    • Social Security number
    • Address
    • Phone number

    Certain loan types have credit score minimums and location restrictions. If you are a veteran, be prepared to present proper documentation. For preapproval, speak to a Wells Fargo mortgage consultant to get help figuring out which loans you qualify for.

    Wells Fargo mortgage rates

    Wells Fargo mortgage rates depend on the type of loan, the amount of the loan and your credit score. Use the bank’s online calculator to find Wells Fargo interest rates for your estimated loan amount and to compare rates on different loans. Mortgage rates vary widely between companies, so be sure to get quotes from multiple mortgage lenders to ensure you're getting the best deal.

    Wells Fargo mortgage requirements

    To learn Wells Fargo’s mortgage requirements in your area, use its online calculator to see what loans you qualify for. Provide the following information to get accurate suggestions:

    • Income
    • Home price or budget
    • Down payment
    • Credit score

    Note that people with credit scores below 620 may not receive as many mortgage options.

    Wells Fargo mortgage FAQ

    Is Wells Fargo good for mortgages?
    Wells Fargo offers a wide range of loan types for many borrowers, including rural residents, active-duty military personnel and veterans. It also participates in government-backed loan programs that require little to no down payment for qualified customers.
    How do I pay my Wells Fargo mortgage?
    You can pay a Wells Fargo mortgage:
    • Online
    • By wire transfer
    • By phone
    • By overnight mail
    • In person

    You can also arrange automatic payments from your checking account.

    What credit score do I need for a Wells Fargo mortgage?
    Wells Fargo typically approves borrowers with credit scores above 620.
    How long does it take Wells Fargo to approve a mortgage?
    Wells Fargo mortgage approvals take 30 to 90 days.
    How much are closing costs with Wells Fargo?
    Mortgage closing costs vary by lender and type of loan, but they are typically 2% to 5% of the purchase price. Use Wells Fargo’s online homebuying calculator tool to compare closing costs on different loan types and loan amounts.

    Is a Wells Fargo mortgage worth it?

    Wells Fargo is a well-established lending institution that offers many types of loans. However, consumers who do not meet standard eligibility requirements might not find a suitable mortgage option. Make sure you qualify for decent rates before committing to a Wells Fargo mortgage.

    Wells Fargo Mortgage Reviews

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    How do I know I can trust these reviews about Wells Fargo Mortgage?
    How do I know I can trust these reviews about Wells Fargo?
    • 2,377,283 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 4 stars
    Verified Reviewer
    Original review: March 13, 2020

    My experience with them was wait time for customer service to answer was almost 5 minutes then was transferred multiple times. They acted like they did not want to answer all my questions and concerns. Overall needs better service.

    3 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: March 11, 2020

    It was my first time buying a home and the customer service was outstanding. They answered every question I had and then answered more that I hadn't even thought about. Extremely helpful in walking me through the process of understanding how lock in rates work, percentages and payments in buying a home. I wouldn't have known every step if it wasn't for the representative that helped me. Very patient and understanding with me and that made the whole process that much more memorable for me. I was a little intimidated at first but by the closing date I felt I knew everything I needed to know when I am ready to buy my next house. Now I know exactly what to expect and I'll be better prepared than I was before this experience.

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      Rated with 5 stars
      Verified Reviewer
      Original review: March 5, 2020

      It was my first time buying a home and the customer service was outstanding. They answered every question I had and then answered more that I hadn't even thought about. Extremely helpful in walking me through the process of understanding how lock in rates work, percentages and payments in buying a home. I wouldn't have known every step if it wasn't for the representative that helped me. Very patient and understanding with me and that made the whole process that much more memorable for me. I was a little intimidated at first but by the closing date. I felt I knew everything I needed to know when I am ready to buy my next house. Now I know exactly what to expect and I'll be better prepared than I was before this experience.

      Be the first one to find this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: March 2, 2020

      It was my first time buying a home and the customer service was outstanding. They answered every question I had and then answered more that I hadn't even thought about. Extremely helpful in walking me through the process of understanding how lock in rates work, percentages and payments in buying a home. I wouldn't have known every step if it wasn't for the representative that helped me. Very patient and understanding with me and that made the whole process that much more memorable for me. I was a little intimidated at first but by the closing date I felt I knew everything I needed to know when I am ready to buy my next house. Now I know exactly what to expect and I'll be better prepared than I was before this experience.

      Be the first one to find this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Oct. 11, 2019

      I was a first time home buyer who was very apprehensive about WF and the entire process. I decided to give WF a chance anyway. I must say, they stand with you every step of the way. Brandon ** and Will ** was terrific to work with. Had it not been for Brandon ** I probably would have kept renting. He was in constant contact with me patiently answering every question in a very timely manner. Will ** ensured we made our Closing date. I also enjoyed the fact I could use the Loan Tracker which was a great help as well. Even though there are so many steps in purchasing a home, you must speak to a few different people in their respective areas, Brandon was still there ensuring all was going well for me. I realize WF didn't have the best reputation but I have absolutely nothing but praise for the service I've personally received. Thank you, Brandon & Will, for helping me fulfill my dream!

      6 people found this review helpful
      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: July 13, 2020

      I am unable to get online access. No matter how many hours I take to wait on hold or talk to someone, I get disconnected many times and have to wait hours again. I have no online access, so I can't see what my mortgage situation looks like. I sent a check to add to my escrow. but I don't think it was applied right. Again, I can't talk to anyone to fix that nor can I see online what happened. Every complaint I can make is either through their online system or by phone. I have no remedy to fix this. They bought my mortgage, so I had no choice but to deal with them. I am thinking of refinancing just to get away from them.

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      Rated with 1 star
      Verified Reviewer
      Original review: June 23, 2020

      Stay away from them. First thing you need to know is you will deal with at least 4 different people maybe 5. First person - I will call the "salesman". Runs your credit. Tells you how wonderful everything is going to be. Second person I will call admin, if you get to this step you immediately get a list of about 10 things to do or documents to submit. OK... It's a mortgage right? Going to take some work. Moved our expected close date up so we had to switch lawyers ($). Two weeks before close I asked "do you have everything you need, haven't heard from you guys in a while?" Answer "Yes, everything is in order". Then you meet the Underwriter that works on your case based on close date and that added 20 documents or "To Do's" to the list.

      First close date pushed back... Remember having to change lawyers? Money down the drain. Then you meet the "closing agent" who after reviewing paperwork decides another 5 documents are required. Then it gets to the "closer", not sure the difference between closing agent and closer, but there you have the bureaucracy at play here in a single sentence. Anyway the closer also needs a couple of things and closing date gets moved back another week.

      Finally (?) get a call "congratulations, your closing is approved" and a date is set. Think you are done? Nope, just got a request for another document to be uploaded and 3.5 days away from closing I think we will be moving it back again. Starting to think that they give you a great rate lock to hook you then delay as much as possible to pass the deadline. Waiting for the call stating "the rate expired but we would be happy give you this other rate..." Coupled with the unethical operations in 2017 I would say don't follow me into the quicksand that is Wells Fargo. Bought and sold 4 houses now and by far the most excruciating company to deal with. I do not exaggerate when I say a week ago I had to deal with the DMV and Wells Fargo (during Covid) and the DMV was by far and away the more pleasant experience.

      18 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 19, 2020

      We applied for a investment loan from Wells Fargo and have had nothing but trouble with them. The lack of communication, along with their ridiculous qualification requirements, really set things off on the wrong foot. It was always imperative that they have our information by a set time and date but when we needed clarification or had questions it could be days before we heard from them. We felt as though we were in a circus jumping through hoops for them. The nail in the coffin was that a week ahead of our closing date we were informed they had not done the home appraisal. Are you kidding me? We were forced to push back our closing an extra week and a half.

      Then to top that off, after not hearing from them they write us to say that once they find an appraiser, the appraiser would need to be vetted and that would take up to 3 weeks. Blood boiling now! The incompetence, lack of communication and the prolonged, never ending excuses and delays, nearly cost us an outstanding investment opportunity. We promptly canceled our application and requested our money back for the application fees and appraisal fees. We were able to acquire a loan Locally to salvage the deal. Still waiting on a reply from Wells Fargo about our refund.

      12 people found this review helpful
      Rated with 2 stars
      Verified Reviewer
      Original review: June 17, 2020

      My wife got laid off and my overtime was cut due to the covid19. I asked about payment deferral on my mortgage and it was granted. What I wasn't informed of is two months later they now want the deferred payments made in the next two weeks. Was not offered any payment options or anything, just a email that this is what it due. My ot. is still gone and it's still difficult to make normal payments much less make up 2600$ in payments in two weeks. We are looking into refinancing now due to this.

      6 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: June 11, 2020

      We had a home mortgage with Wells Fargo for over 10 years and we sold our property and paid off our loan. We chose Wells Fargo for our next home purchase in FL. Big mistake. My husband is a government employee and stationed in MD and Wells Fargo said because he would not be living in the new home all the time it had to be called a 2nd home loan even though we do not own a 1st home. They changed the loan amount on 3 days before closing and change the loan from primary residence to 2nd home. When I asked the lender why would they do that and how would we prepare our year end taxes, he said, "Just call it your primary on your taxes." Telling us to lie on our taxes and suggest a loan classified as a second when it is not, is very dishonest. I would run from any loan mortgage with Wells Fargo!!!!

      13 people found this review helpful
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      Wells Fargo Mortgage Company Information

      Company Name:
      Wells Fargo
      Year Founded:
      1852
      Address:
      420 Montgomery Street
      City:
      San Francisco
      State/Province:
      CA
      Postal Code:
      94104
      Country:
      United States
      Phone:
      (800) 869-3557
      Website:
      www.wellsfargo.com