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  Wells Fargo Mortgage Refinance
Wells Fargo Mortgage Refinance
in Mortgage Refinance from Wells Fargo Bank · NMLS ID #399801
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Wells Fargo Mortgage Refinance

Unaffiliated
in Mortgage Refinance from Wells Fargo Bank · NMLS ID #399801
Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount N/A
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).

Key Takeaways
  • 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.
  • 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.
  • 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.
Wells Fargo Mortgage Refinance Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Available in all 50 states.
  • Charges an origination fee of up to 5% of the loan amount.
Wells Fargo Mortgage Refinance FAQ

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 mortgage refinancing with terms ranging from 15 to 30 years.

How long does Wells Fargo Mortgage Refinance take to refinance?

Wells Fargo Mortgage Refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.

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
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Wells Fargo Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee (%) 2% - 5%
Credit Score Range 550 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Property Type
  • Single Family Home
  • Townhome
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
APR Starting at 2.375%
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Hybrid Mortgage
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA
  • Jumbo

Wells Fargo Mortgage Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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