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Wells Fargo Mortgage

Wells Fargo Mortgage

 3.8/5 (623 ratings)
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About Wells Fargo Mortgage

This profile has not been claimed by the company. 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.

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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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?
  • 3,433,454 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: 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.

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Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Sept. 29, 2021

Wells Fargo Mortgage recently bought my mortgage loans from Summit Financial Funding. During the course of home buying, Summit Financial did inform me that I can make a request to handle the escrow by myself after the house is closed and once my mortgage gets sold to a new firm. Now the new firm, Wells Fargo would simply not accept my request. They are bringing in new terms and conditions to essentially hold my escrow money, while I lose the opportunity to make diligent investments with my money and pay the taxes and insurance by myself. Personally, very poor experience with Wells Fargo. I would request consumers to avoid doing any business with Wells Fargo, if possible.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 3, 2021

    Wells Fargo mortgage department is nothing but crooks who get you for your money when paying for an appraisal to only deny you. Their communication when going through the process is not so open. Wasted almost $600 for some other company to get richer after being pre approved. What a waste of time. Thank you Wells Fargo for everything. I see why that you always on the news for taking other people money.

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

    Wells Fargo is so unethical! I have VA home loan through them. I sold my house for EXACTLY what was owed on my loan. Fast forward 4 years later I apply for a new VA home loan and find out after I closed Wells Fargo billed the VA for 24,000. I asked what it was for and they have no information. They basically say when banks bill them they just pay it. I call Wells Fargo and they can’t give me a breakdown. Just say ‘fees’. They are fraudulently billing the VA and getting money! Most unethical company I have ever seen. I can only imagine what they do to people that bank there.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 15, 2021

    Adrienne ** home Mortgage Consultant **. She had my realtor to sell my house and after that I supposed to closed on my house but never happened. She wouldn’t not answer the phone. The bank will not call me to let me know what is going on with my loan. I am homeless plus my license home daycare with disabilities kids. She stole my life. No house and no income. Wells Fargo bank needs to compensate me cause I pay for inspection and mortgage insurance, survey, appraisal, earnest money. I will like to go on media so I can let people know don’t deal with Wells Fargo bank cause they are fake. I will be getting me a attorney because this should have never happen to me - homeless. Come on y’all. This is so wrong - the way that they treating me. Something got to be done about this so it won't happen to no one else.

    5 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 25, 2021

    Wells Fargo Bank Home mortgage not even deserve 0 rating, all of Wells Fargo Bank Home Mortage employee are unprofessional, liar, wasting people time as well people money. They don’t know what they are doing, they are not well train, most of them don't have work experience. They are just ripping off people. I am customer with Wells Fargo 5 years, I have 750 Credit score. I don’t have any other payments, I have permanent State job making more than 80k a year.

    I applied for loan and submitted all the required documents also I was paying 20% down. On 07/19/2021 was my closing date me and my real-estate agent was sending emails we called them since three days nobody was answering us. On 07/21/2021 they answer the call and told us that, "Your loan is not approved, we cancel your loan because you don't have three years futures planning of continuing income."

    I am requesting written notice from them but they are not sending me any written notice, not answering my calls even. I paid for appraisal. They told me to take insurance, at the end they are saying I am not approved for loan because I don't have 3 years future plan. I am asking from them who knows the future what will happen, who is guaranteeing the future nobody, we are human not GOD. Shame of Wells Fargo Bank, wish I was not waste my time with them.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 13, 2021

    Updated on 07/31/2021: I wanted to update my last review but I don't see where I can do that so here's an additional review that I'm STILL WAITING for Wells Fargo to refinance my home or give me any kind of resolution. They have extended my rate lock yet another month because they've messed up so many times. But now if that was on me there's no way my rate lock would be extended. I've also been told I'd be contacted by somebody regarding my initial complaint and here I am still waiting for that too. At this point I'm going to cancel the whole refinance with Wells Fargo and go with a smaller company that will offer a better rate. Wells Fargo you've been a horrific experience.

    Original Review: I've been trying to refinance for almost 3 months now. On day two of the process I informed my mortgage consultant the law office/title provider that I chose. Today almost 3 months later I'm being told that my refinance is going to have to be delayed another week or two because of this "change" i.e. me wanting to use my title provider that I chose two days after I started this process. I will never ever use Wells Fargo for any type of loan or banking in the future. My original loan with a small company was so smooth and flawless I had no idea what I was in for with Wells Fargo.

    Do yourself a favor and go with a smaller bank when getting a home loan or refinancing. They may end up selling your mortgage to a bigger company like Wells Fargo but throughout the process you will get much better customer service. People who actually remember what you say or email and care about what you say to them so you're not repeating yourself many many times and also having to fill out the same form many times. A mega bank like Wells Fargo is trying assist too many customers that you almost can't blame the multiple people they put in charge of your process. You are just a number, you are not a person.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: June 16, 2021

    Updated on 06/17/2021: So Wells Fargo responded to my review. They promised a phone call by the end of the day from one of their problem resolution person. He never called. Still no date to close on my refinance. Still no communication.

    Original Review: I have been waiting now 67 days for my refinance to get done. The person who was working on my loan is never in the office. I have reached out for answers and still haven't heard what the issue is. I think they are hanging on to the loan as long as possible to keep charging me the higher interest rate since I already have a mortgage with them. I find their communication to be terrible. I'm constantly needing to resend documents because they are taking too long to complete the loan process so they expire. No one can answer me. I was approved in May for the loan. I started the process in April.

    7 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: April 29, 2021

    I loved Wells Fargo. I have heard a lot of complaints about them, but I had no problem with them. I would definitely use them again in the future. They were very customer oriented. I even got a gift card from them for refinancing.

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    Rated with 1 star
    Verified Reviewer
    Original review: April 28, 2021

    I ended up with Wells Fargo for my mortgage after Wells Fargo acquired Washington Mutual. I called several time and ask if I can get a loan modification that I qualified for back in 2009/2010 and received no help. I was in a bad loan that was written by Washington Mutual and ended up paying over $200.000 extra interest on my loan. In March of 2020 I was able to pay my mortgage but not my taxes on my house. Wells Fargo didn't apply the payment to my loan because of that. I didn't find out for a couple of years. They used part of the money for something I don't know until today. The rest I was able to apply to a payment in 2014.

    Wells Fargo charged me late interest fees for almost 10 years and sold my loan to Rushmore Mortgage. It is a nightmare dealing with them. Now I had to make double payment to be current on my loan with them and the late fees are still sitting there not resolved. Neither Rushmore or Wells Fargo offering any help or admitting that Wells at Fault. Wells got so much money to get bailed out and consumers like myself are not getting any help. Very frustrated.

    8 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