Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
Wells Fargo Home Mortgage is a division of Wells Fargo, founded in 1952 with corporate headquarters in San Francisco, California. Wells Fargo Home Mortgage is available to customers in all 50 states, though it doesn’t operate brick-and-mortar locations in New Hampshire, Oklahoma, Rhode Island or Vermont. The company doesn’t operate in U.S. territories.
Although it’s one of the top mortgage lenders in the U.S., Wells Fargo Home Mortgage has a relatively basic online presence. However, with branch offices in 46 states, borrowers can meet in person with a banker to discuss their mortgage options.
For first-time homebuyers, Wells Fargo Home Mortgage offers a proprietary online educational program called My FirstHome, with information on how much house one can afford, the differences between preapproval and prequalification, the role credit history plays in the purchase and more.
Through yourFirst Mortgage, a program for first-time and repeat customers, buyers can purchase a home with as little as 3 percent down for a fixed-rate mortgage with required mortgage insurance.
Eligible buyers may receive a $750 closing cost credit for completing homebuyer education.
In addition to the Downpayment Assistance Program (DAP), Wells Fargo Home Mortgage offers programs through the NeighborhoodLIFT initiative, designed to promote homeownership in communities in collaboration with NeighborWorks America. According to company representatives, LIFT programs have helped more than 20,000 homeowners purchase homes since 2012.
Wells Fargo Home Mortgage provides a variety of mortgage options for homebuyers. They offer these loan types for purchases and refinances:
- Conventional fixed-rate mortgages
- Adjustable-rate mortgages (ARMs)
- FHA loans
- VA loans
- USDA loans
- Jumbo mortgages