![]() To get the lowest mortgage rates, you typically need a FICO score of 740 and above. Your credit score is another major factor that affects your interest rate on a Wells Fargo mortgage. However, be aware that rates on ARMs reset after their initial terms toward the prevailing market rates and will continue to do so periodically unless the mortgage is refinanced. Mortgage rates on ARMs tend to be even lower, since you’re only locking in the rate for a few years, rather than 15 or 30. So interest rates on a 15-year fixed-rate mortgage will be much lower than on a 30-year mortgage available to the same borrower. Generally speaking, mortgage rates are lower on shorter term loans than they are on long-term ones. Wells Fargo mortgage rates vary according to a number of factors, including loan type, length of the loan, the borrower’s credit rating, discount points, the amount borrowed, the size of the down payment, where the property is located and others. The mortgage industry is highly competitive, and major banks like Wells Fargo strive to attractive loan packages to their customers. Wells Fargo is an approved lender for both FHA and VA mortgages. ![]() ![]() Mortgage brokers do not lend directly to borrowers, but work with multiple lenders to help borrowers find the one that best meets their needs, then assists with closing the loan. You can obtain a Wells Fargo mortgage either directly through a Wells Fargo retail branch or through a mortgage broker. It’s not known if the company plans to resume such lending once the housing market stabilizes. Wells Fargo does not currently offer reverse mortgages (Home Equity Conversion Mortgages), having discontinued them in June 2011 due to unpredictable home values. Lending options include 30- and 15-year fixed-rate mortgages, and adjustable rate mortgages (ARMs) with initial terms of 3, 5, 7 or 10 years. Wells Fargo offers a variety of home loan products, including mortgages, mortgage refinancing, home equity loans, home equity lines of credit ( HELOCs), home improvement loans and construction loans. It ranks as the nation’s #1 small business lender (Community Reinvestment Act data) and the top home loan originator to minority and low-income neighborhoods (Home Mortgage Disclosure Act data). Wells Fargo holds the nation’s highest customer satisfaction ranking among large banks, according to the American Customer Satisfaction Index, a status it has held for several years. ![]() It was long known as a western regional bank, but expansion and mergers in recent decades have brought it to the point where it now has more than 9,000 branches in 39 states and the District of Columbia. Headquartered in San Francisco, it was founded in 1852 as a banking and express company, and its early involvement in overland mail service is still reflected in its iconic stagecoach logo. It is the nation’s fourth-largest bank in terms of total assets and is the biggest mortgage bank in terms of both mortgage lending and servicing. banks and a major presence in the country’s mortgage market. ICB Solutions | NMLS #491986 ( Close Modal Mortgage products are not offered directly on the website and if you are connected to a lender through, specific terms and conditions from that lender will apply. will not charge, seek or accept fees of any kind from you. By submitting your information you agree Mortgage Research Center can provide your information to one of these companies, who will then contact you. For a full list of these companies click here. If you submit your information on this site, one or more of these companies will contact you with additional information regarding your request. ICB Solutions and Mortgage Research Center receive compensation for providing marketing services to a select group of companies involved in helping consumers find, buy or refinance homes. Neither, Mortgage Research Center nor ICB Solutions are endorsed by, sponsored by or affiliated with any government agency. ICB Solutions partners with a private company, Mortgage Research Center, LLC, (nmls # 1907), that provides mortgage information and connects homebuyers with lenders. is a product of ICB Solutions, a division of Neighbors Bank.
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