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Wells Fargo Mortgage

Wells Fargo Mortgage
Overall Satisfaction Rating 3.94/5
  • 5 stars
    479
  • 4 stars
    671
  • 3 stars
    290
  • 2 stars
    50
  • 1 stars
    59
Based on 1,549 ratings submitted in the last year

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.

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 ... 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?
    • 3,143,414 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: 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.

    5 people found this review helpful
    Rated with 4 stars
    profile pic of the author
    Verified Reviewer
    Original review: Aug. 25, 2020

    Application process takes too long and found there a few departments handle your application and they do not communicate with each other. Every step the consumer need to be involved to share the information.

    5 people found this review helpful

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      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.

      3 people found this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: Aug. 22, 2020

      Ok, I’ve felt with Wells Fargo before it was not a good experience. Now by no choice of my own, my mortgage was sold to Wells Fargo. I would have never chosen them. But so far it’s been pretty good, no issues yet.

      3 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 20, 2020

      I highly recommended my mortgage with Wells Fargo. They have an exceptional customer service, very polite and knowledgeable. They had been my company for so long now but I had to contacted them several times during this pandemic even though I had been able to pay my mortgage they had mentioned if anything they would work with us. We had never been late and we haven’t get any other loans with them but I’m sure if I ever need one we know we wouldn’t have any problem. I’m a 100% satisfied and I highly recommend them.

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      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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      Resolution In ProgressRated 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.

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      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: April 15, 2021

      Think twice before you finance your home through Wells Fargo. They will change your contract to their advantage. I refinanced my home through them in 2013. Due date was supposed to be set up on the 15th of each month. They set it up on the 1st of the month. I get paid on the third week of each month. When I contacted them and explained why I needed the 15th, they told me not to worry about it that they’d never charge me late fees. For 8 years they stood behind the deal. For 8 years when they would call about it, they would look and see the deal in the notes. Now for some reason all the notes have disappeared. No records of them making this deal with me. And now all of a sudden I’m being charged late fees, which they know will add up every month for the next 12 years.

      Two months ago when they called me, the notes were still there stating no late charge. They say no one has the ability to change the notes, but they mysteriously disappeared. Don’t trust them, they will rip you off in the long run. They say they can’t explain why I haven’t paid late charge for over 8 years. Common sense tells you there was a reason, but they can’t explain why this was overlooked for 8 years. They say I should be happy that I didn’t have to pay for the last 8 years and start paying 36 dollars extra a month. Very unhappy customer.

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      Resolution In ProgressRated with 3 stars
      Verified Reviewer
      Original review: April 15, 2021

      Had difficulties in negotiating numerous times with Wells Fargo for a lower interest rate on mortgage. I was successful with other lenders so highly recommend doing your research. I'm recommending Freedom Mortgage particularly for VA loans.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 8, 2021

      Wells Fargo is a rip off. They overcharged me on PMI after my loan had been paid in full. Also, in order to get a PMI removed they make a customer jump through hoops. The customer has to pay extra money to have a PMI removed. I am so happy I refinanced with another company. (Note: I am with American Financing now. So happy I switched.)

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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