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Wells Fargo Mortgage

Wells Fargo Mortgage
Overall Satisfaction Rating 3.92/5
  • 5 stars
    304
  • 4 stars
    428
  • 3 stars
    167
  • 2 stars
    37
  • 1 stars
    63
Based on 999 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.

Read full review
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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    Are you this business?

    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?
    • 2,482,595 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
    Resolution In ProgressRated with 1 star
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    Verified Reviewer
    Original review: Oct. 11, 2020

    Worst bank in the world. Because of covid-19 they are not Lending. They just want to take your money for fraudulent appraisal and credit application. This is how they make their money. Last minute they will deny you. There's nothing you can do about it. One person gets your application and then 10 other people on working on your application that you don't know who they are. They just keep passing your application to different people.

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    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: Oct. 8, 2020

    There is no doubt in my mind that Wells Fargo is a shady company who has set me up to take my house. I was OFFERED a loan modification program by Wells Fargo in early 2020. I received the loan modification paperwork around the time the pandemic started and the country was shut down. At that time, I was a teacher who was instructed to teach online for the remainder of the school. I had to get the loan mod paperwork notarized, but I am 65 with some health issues and was concerned about contracting the virus, so I asked Wells Fargo if I could get the paperwork notarized when there was no longer a pandemic, as at that time I thought the pandemic might be short-lived. WF assured me I could do it later, and to just keep making monthly payments. The pandemic didn't get better. I live between Philadelphia and Trenton, NJ, and numbers have been consistently bad here.

    Every month when I called to make the payment (always being put on hold at least an hour or more before the payment could be made) I inquired if not getting the papers notarized could jeopardize the loan modification. Every single month I was told that it would not. When I called in August to make the payment, I was informed that I no longer had a loan modification with WF because the paperwork did not get notarized. I was shocked as WF had assured me each month that it could wait. I was given no warning whatsoever that they would do this. WF could have told me that I would lose the loan if the papers weren't notarized. I was NEVER told that. WF didn't have the decency to even contact me. I only found out about it because I asked about the loan mod when I made a payment. I received a letter from WF a week later informing the loan mod ended.

    When I checked my mortgage statement, I discovered WF had added over $10,000 to my statement, and claimed the amount was overdue. Now the overdue amount is stated at over $9,5000, even though I made a payment every month. In August I requested that the case be reviewed in the executive office and although I was told I'd be given an answer in 10 days, it is now Oct. 7, and I'm still waiting. Every time I call the executive office I'm told something different. On Sept 24, I called the ex office and asked to speak with a supervisor. She advised me to get my original paperwork notarized ASAP and mail it to WF. I did that the following day. I called WF 2 days ago and they claimed they hadn't received the paperwork yet. I called the ex office today and spoke with a man who checked and told me they had received my paperwork.

    He said he'd transfer me to the caseworker who could provide more info. When I spoke with her, she claimed FW had NOT received the paperwork. When I asked to speak with her supervisor, I was also told the paperwork did not arrive. I requested that she overnight me another copy of the paperwork so I could get the paperwork notarized again and this time I would get confirmation when they received it. She would not do it. I have a copy of the original notarized paperwork, but was told WF will not accept anything but the original copy. They won't allow me to fax or mail the notarized copy even though I had it notarized at a Wells Fargo Bank. Two days ago, I was told for the FIRST TIME that the loan mod would only be reinstated if the mortgage lender approved.

    So why was I never told this previously, like every month when I called to make a payment and inquired about the papers being notarized? I firmly believe that Wells Fargo is incredibly dishonest when dealing with their customers. Wells Fargo also put me on a loan suspension program, even though I didn't ask to be placed on it and I haven't missed a payment. This is a program that has something to do with people losing their jobs due to the pandemic and it doesn't apply to me. I believe this entire fiasco has been a ploy to take my house. I would never recommend Wells Fargo to anyone and wish I had never done business with them. I had no idea they could be so corrupt.

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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 25, 2020

      Updated on 10/09/2020: I keep receiving calls, from Wells Fargo. But nobody gives me a full explanation of my denial reason. I deposit yearly $700,000.00 my income out of there is $180,651.00 yearly. From my business account I pay all of my personal and home expenses, which comes out close to $50,000.00 to $60,000.00. Still even with great credit, great income. Wells Fargo denied me a loan saying not enough assets. Current balance in my account is $85,000.00. They say not enough to pay $15,745.00 in closing costs and another $2,800.00 to complete the downpayment.

      Somewhere their math is wrong. I had made it very clear from the beginning, that I had closed my personal account about a year and a half ago. They told me, "Don't worry. We will use your business account." And still they say I don't have enough assets, I own two properties out the country with a value close to $620,000.00 and have an account out of the country, will not say balance but a big one. Thanks Wells Fargo. I will be closing my accounts and take my business elsewhere, since I am no good for you. Fausto **

      Original Review: I called Wells Fargo, applied for a mortgage, got a preapproval right away. Income and credit are great. After one month then I have to call in, to find out that I can't use my own money from business account. I stated clearly that I did not have a personal account that everything comes out of my business account. Was clearly told, "No problem. You have plenty of money in the bank." Then they tell me that I can not use my own money. Ridiculous. I been with them since 1991. Will close all my accounts.

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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 12, 2020

      For the 3rd time since we got stuck with Wells Fargo Mortgage, they have taken a stipulated principal payment, an extra payment, and either misapplied it or not applied it and they refuse to give us credit on interest charged. We have always paid our monthly payment on time; it is automatically drawn on our checking account at another financial institution. We only physically go to Wells Fargo to make extra principal payments. The first time we made an extra payment, like months' worth of principal, they showed it as rec'd but did not apply it to the principal until we brought it to their attention. The second time, they applied it to the next payment, which wasn't even due, and applied the balance to the principal. This time, on September 2, 2020, they once again posted it to our account but did not apply ANY of it to the principal.

      When I called them on it, they said it would be applied after our monthly payment was received and asked if I wanted to pay it while we were on the phone. I told them it was automatically paid from our bank and we were not making a duplicate payment. They already had money they were sitting on, not applying it to principal. They said they could not apply it to the principal until after the monthly payment was made. The monthly payment was made and I had to e-mail them and complain because the big payment we made was still sitting there.

      That night they applied but not back to Sept. 2nd, they applied it on the 8th and it did not show up until the 9th of September. I asked for credit on the interest because they had had our "good money" payment since the 2nd. They REFUSED to give us credit. Once again, Wells Fargo Mortgage has earned their F rating. It should be F-. We had no choice in going with them; the loan processor company, Nova, sold it to them without any choice from us. This has been a disaster loan from the start. Why can't Wells Fargo clean up their act?

      3 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: Sept. 4, 2020

      My mortgage was sold to Wells Fargo which I was furious at first; then after talking to them I calmed down. Then when it was time for my house insurance to be paid, my insurance company sent the bill to the wrong mortgage holder, I was frantic since I could not get hold of my insurance agent to correct it; my insurance company dropped my home owners policy. I called Wells Fargo explained the situation and they got on the phone and help straighten the bill issue out. Great customer service from the insurance division of Wells Fargo.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 29, 2020

      The worst customer service. I avoided this company after they opened a fake credit card in my name but unfortunately they bought my mortgage note. The customer service is so bad I would never ever open a bank account, mortgage, or any other financial product. If you do business with them because you choose to (if they do not buy out your mortgage note) then you deserve the bad service you get from a national company built upon liars and cheaters.

      3 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: Aug. 24, 2020

      Initial loan process was smooth. But trying to refinance was an issue. It seem since our loan amount is below $100,000 they will not reduce our rate and lower our payment. They are the same as all the others we have contacted.

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      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.

      4 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: March 13, 2020

      My final thoughts are that My Mother like Me had her Mortgage from Wells Fargo and she always mentioned nice things about them so that is what made Me take out My 1st Mortgage with Wells Fargo. 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. I was devastated because she was dying. After dealing with Wells Fargo in the midst of all the chaos and sadness, Wells Fargo understood and worked with Us to make everything go smoothly. They cared unlike most Mortgage companies.

      3 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: March 7, 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.

      2 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