Wells Fargo Mortgage

Wells Fargo Mortgage

 3.9/5 (1422 ratings)
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About Wells Fargo Mortgage

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.

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    Overall Satisfaction Rating

    • 5 stars
    • 4 stars
    • 3 stars
    • 2 stars
    • 1 stars

    Pros

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

    Cons

    • Strict eligibility requirements

    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.

    Top Wells Fargo Mortgage Reviews

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    Rated with 5 stars
    Verified

    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 ... Well...

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    Rated with 5 stars
    Verified

    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 represen...

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    Looking to refinance your mortgage?

    See which lender is best for you!

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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?
    • 3,768,613 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
    Verified Reviewer
    Original review: May 4, 2022

    Applied for refi loan of my mortgage back in October 2021. Mid December, got a call from closing attorney Michael ** stating we were set to close in four days and how much the cashier's check should be that I knew I had to bring to closing with regard to the divorce degreed settlement. Two days from closing I called Mr. ** and to my surprise he said "there won't be a closing". To make this decision two days before scheduled closing, knowing there's a divorce decree in place with time guidelines is unprofessional.

    Be the first one to find this review helpful
    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: April 25, 2022

    I’ve had a mortgage with Wells Fargo for over 20 years. I have NEVER been one day late. I recently reached out to refinance and it was the worst experience. They made it really hard, asked for the same paperwork more than once…finally after too much time spent..I told them to “FORGET IT”. Care more for your customers!!!!

    3 people found this review helpful

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      Rated with 1 star
      Verified Reviewer
      Original review: March 31, 2022

      Some who are assigned to work in Wells Fargo Mortgage/Refinance Department lack empathy or concern for humankind. It doesn't take much to be fair and diplomatic. Humility is preferred in a world that has become increasingly impersonal, robotic, and unwavering. People are people with varying degrees or needs. When you have worked a lifetime and you have reached your golden years, you seek out consideration from sources that can/ should help you in a time of need. I do not feel that was the case with Wells Fargo. Do not abuse the hand that feeds you. If it were not for members/customers of the bank, Wells Fargo would go under. I have read and seen considerable commentary from others who are not pleased and who have spoken out about mistreatment and unfairness. Look at the people you hire.

      4 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 28, 2021

      Absolutely terrible. After my mom passed away last summer, they have made it VERY difficult for my Dad to assume payments even though we've sent them copies of her will. I spent four months on the phone with them to no avail. They shared the home together but the loan was in her name. He's able to make payments now but they will not discuss any account details with him on the phone. What?! No compassion and/or poor organization. Someone should not have to jump through hoops after losing a loved one. Very disappointing. Borderline despicable.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 27, 2021

      The entire process was disorganized, dragged out, and regretted! They requested the same documents over and over, made me pay $700 for an appraisal, demanded P&L statements... and in the end I was denied based on info they had from the first week. Don't go down the Wells Fargo road. Beware.

      7 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 17, 2021

      Buying a home with Wells Fargo was the worst experience of my life. This is the 4th time I’ve purchased a home and this company does everything in its power to make it difficult for the buyer. Communication is nonexistent if the buyer needs help and borders on harassment if WF needs info for themselves. Due to a last minute requirement on my loan (due to storms in the area - no damage to property) and extreme lack of communication or follow up, four families are stalled in their closing/moving process and my own family is now homeless. BUYER BEWARE!! Do not use Wells Fargo for your mortgage needs!!!!

      9 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Dec. 14, 2021

      Three times the mortgage department has taken out extra flood insurance “on my behalf“ even though my current flood insurance is maxed out. This time they say they are canceling my flood insurance escrow collection. I’m out! Refinancing at a different lender.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 29, 2021

      Wells Fargo is by far the worse mortgage company I have ever dealt with. We applied for a mortgage on May 25 and could never get it closed. By September 10 we were so sick of dealing with them, we finally went with another lender. The new lender got done in seven (yes, 7) days what WF could not do in almost 4 months. WF asked for the same documents repeatedly. They asked for documents on Friday at 4:50 and our loan was scheduled to close that following Monday. WF sent us a commitment letter dated August 20 that had an expiration date of August 15. Our first loan processor was so unresponsive we were assigned to another after one month.

      From the beginning, we made sure our new processor knew the schedule of selling our home and the purchase of the new home. We already had a closing date set, which was not met. In the end, we incurred expenses totaling almost $3,000 due to WF's inability to honor own mortgage request. We asked for reimbursement for these expenses and WF refused. This story goes on and on and on. I had been a customer of WF for almost 40 years, my husband, as well. We have considerable assets, stellar credit scores, no late payments ever, no bounced checks and this is how we were treated. I am in the process of closing all accounts with WF and will never do business with them again. I wish I could give them less than one star. Please think again if you're considering Wells Fargo, they are worse than awful!

      12 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 16, 2021

      I bought my house in 2012 through my realtor Sibcy Kline who was quite marvelous to go above and beyond to make the experience seamless and painless. They selected my lender (Wells Fargo) and appraisal company and title company, etc. Fast forward to 2016, I decided to refinance because I wanted to get rid of my PMI and shorten my loan term, and I figured that it would be easier to use my same lender (Wells Fargo). I was able to get rid of my PMI and the process wasn't too bad.

      However, I am extremely disappointed that now in 2021, after being a customer of 9 years, they don't have the slightest care when dealing with customers. I was going to refinance again, to take advantage of the lower rates in the market, and I got approved and my closing date came and there were inconsistencies in the paperwork, so I did not sign. I did try to get a hold of my loan officer to no avail and when I spoke to another Wells Fargo representative, he said he would let my loan officer know and call me back because apparently he was the only one who could fix my paperwork.

      This has started a nightmarish hell week for me, in which different Wells Fargo representatives call me and ask me to repeat myself every single time and promise resolution that they don't deliver. The last 2 times, I noticed a hostility tone in the Wells Fargo representatives who called me. They seemed annoyed that I ask too many questions and that I am not appeased by them passing me around like a hot potato.

      The last person I talked to, my loan officer's manager, just straight up told me that they won't correct the documents and I just have to sign them as is and just take her word that the documents don't mean what they are saying. Instead of showing me factual evidence to support their claims, they want me to all the legwork myself "for my peace of mind" as they are quite insistent that they are on the right and nothing I say or uncover will make them correct the documents that they want me to sign.

      I am to the point that I just either won't refinance at all, refinance with someone else, or pay this loan off not to deal with this kind of nonsense again. I think it's best to go to a local office of any bank or any brick and mortar financial institution and have a human to talk to face to face, than dealing with the army of Wells Fargo representatives by e-mail and phone who you cannot reach when it counts.

      10 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 7, 2021

      I have had a mortgage with them for some time and went to refinance since the rates were much lower now. After 4 months of endless paperwork, escalating my account and "we are working on it", I finally stopped the process. This cost me $500 in fees. I went through Commonfund Mortgage got a better rate and with less hassle and paperwork. The whole process took a month and a half. Who ends up buying the mortgage but Wells Fargo. Go elsewhere for your refinancing needs.

      6 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
        Website:
        www.wellsfargo.com