Wells Fargo Mortgage Refinance
in Mortgage Refinance from Wells Fargo BankUnaffiliated
|Loan Term (Years)||15 - 30 years|
Wells Fargo Mortgage Refinance Review
Wells Fargo Mortgage Refinance is offered by Wells Fargo Bank (NMLS #399801), a bank founded in 1852 and based in San Francisco, CA. Wells Fargo Mortgage Refinance is available in 50 states (and Washington, DC).
- 4 different mortgage programs offered. Wells Fargo Mortgage Refinance refinances FHA, VA, jumbo, conforming, and conventional mortgages.
- Specializes in single-family homes. Only offers mortgages for single-family homes, but not for multi-family properties or manufactured homes.
- Non-standard interest rates available. Wells Fargo Mortgage Refinance offers adjustable-rate mortgages, hybrid mortgages, and fixed-rate mortgages.
- Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
- Origination fees of up to 5%. This is on the high end when compared to the other lenders SuperMoney tracks. Origination fees are deducted from the loan amount, so consider them when deciding how much you need to borrow.
- Poor credit accepted. Even if you have bad or poor credit, you can apply. Borrowers with a credit score as low as 550 are considered.
What is the maximum loan term for a mortgage refinance via Wells Fargo Mortgage Refinance?
The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Wells Fargo Mortgage Refinance offers mortgages refinancing with terms ranging from 15 to 30 years.
What is the estimated funding time for a mortgage refinance with Wells Fargo Mortgage Refinance?
Wells Fargo Mortgage Refinance will typically fund mortgage refinances within 90 days of approval.
Does Wells Fargo Mortgage Refinance charge a mortgage origination fee?
Yes, Wells Fargo Mortgage Refinance will charge a loan origination fee of 2% to 5% of the loan amount.
Does Wells Fargo Mortgage Refinance charge prepayment fees?
No, Wells Fargo Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs does Wells Fargo Mortgage Refinance offer?
Wells Fargo Mortgage Refinance offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Wells Fargo Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Wells Fargo Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Other Services by Wells Fargo Bank
Wells Fargo Cash Wise Visa Card
Wells Fargo Propel American Express® Card
Wells Fargo Secured Credit Card
Dillard's Credit Card
Wells Fargo Visa Signature Card
Wells Fargo Cash Back College Card
Wells Fargo Rewards Visa Card
Wells Fargo Platinum Visa
Kirkland's Credit Card
Micro Center Insider® Credit Card
Shaw Credit Card
Wells Fargo Cash Back College Visa Card
The Hotels.com® Rewards Visa® Card
Wells Fargo Active Cash Card
- Washington, DC
- North Carolina
- North Dakota
- New Hampshire
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Prepayment Fee|
|Origination Fee (%)||2% - 5%|
|Credit Score Range||550 - 850|
|Employment Statuses Considered||
|Immigration Status Considered||
|Joint Loan Applications Accepted||
|Verification Documents Required||
|APR||Starting at 2.375%|
|Loan Term||15 - 30 years|
|Interest Rate Types Offered||