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Wells Fargo Home Mortgage Review 2022

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At a glance

Wells Fargo Home Mortgage

NMLS: 399801


Rating: 4.9 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans; investment property


Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans

Pros and cons

Checkmark Pros

  • Displays mortgage rates online
  • Massive branch network
  • Will consider non-traditional credit references in application process
  • Offers low-down payment options to assist lower-income borrowers

Close X Cons

  • No longer offers home equity lines of credit (HELOCs)
  • Below-average customer satisfaction scores and negative past customer reviews

Wells Fargo Home Mortgage overview

Wells Fargo Home Mortgage, part of the namesake bank, offers home loans for a variety of needs, including home purchases and new builds, investment properties and refinancing. The bank’s time from mortgage application to closing ranges between 30 days and 90 days depending on a range of factors, according to a company spokesperson, and the time to obtain a preapproval also varies. (If you’re a highly-qualified borrower, however, you could receive a PriorityBuyer preapproval letter as soon as you apply online.) While the bank has seen no shortage of controversy in recent years, it continues to provide mortgages, though appears to be gradually downsizing that segment of its business.

Wells Fargo Home Mortgage is good for

Borrowers with limited credit histories or those who prefer a traditional bank with plenty of branch locations

Breakdown of Wells Fargo Home Mortgage overall score

  • Affordability: The rates Wells Fargo advertises on its website are overall competitive compared to Bankrate’s averages, but you might find lower-rate offers elsewhere. As with many lenders, the bank offers the option to buy down your rate at closing. 

  • Availability: Along with banking services, Wells Fargo offers mortgages to borrowers, including real estate investors, in every state.

  • Borrower experience: J.D. Power ranked Wells Fargo just above average for mortgage customer satisfaction in 2022. As one of the largest banks in the country, it offers multiple convenient channels to obtain a loan.


To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 5/5

Wells Fargo displays its latest mortgage rates on its website, and as of this review, they were slightly lower than Bankrate’s averages. The bank’s lender fees vary — you can get a complete estimate of closing costs, including origination charges, by inputting a few details about your credit score, the property you want to buy and the down payment you plan to make in the bank’s online customized rate calculator.

Availability: 5/5

Wells Fargo operates nationwide, and its loan options include conventional, FHA, VA and USDA mortgages. The bank also offers several flexible jumbo loan options for those buying or refinancing higher-priced homes. You’ll need a 620 credit score, at minimum, to qualify for a conventional mortgage.

Borrower experience: 4.7/5

Wells Fargo has been around since 1852. In recent years, the bank has run afoul of regulators and become associated with some disreputable practices. In J.D. Power’s latest study of mortgage origination customer satisfaction, the bank scored higher than the industry average. However, it isn’t accredited by the Better Business Bureau and has a “Bad” rating on Trustpilot based on more than 800 customer reviews.

Still, if you’re looking to obtain a loan with the bank, its website offers loads of helpful resources for borrowers, including the My FirstHome digital education experience to help you determine if you’re ready to stop renting. There are also calculators and comparison tools to help you understand the costs of purchasing or refinancing.

To get started with a mortgage, you can get prequalified online; visit a branch; or call 877-937-9357 to connect with a loan officer, or 800-357-6675 for customer service (available Monday through Friday from 6 a.m. to 10 p.m. CT and Saturdays, 8 a.m. to 2 p.m. CT). There’s also a convenient chat feature on the bank’s website.

Refinancing with Wells Fargo Home Mortgage

Wells Fargo offers a range of refinancing options. You can compare refinance rates and get an estimate of your closing costs with the bank’s calculator online.

Alternatives to Wells Fargo Home Mortgage

Wells Fargo Home Mortgage consumer reviews


NMLS: 399801


Rating: 5 stars out of 5

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Written by

David McMillin

Contributing writer

David McMillin is a contributing writer for Bankrate and covers topics like credit cards, mortgages, banking, taxes and travel. David’s goal is to help readers figure out how to save more and stress less.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor