Wells Fargo Home Mortgage Review 2022

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At a glance

Wells Fargo Home Mortgage

NMLS: 399801


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Bankrate Score

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Loans offered

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

Available in all U.S. states
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Min. credit score required

620 for conventional loans

Pros and cons


  • 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


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

Wells Fargo Home Mortgage overview

Wells Fargo Home Mortgage is one of the nation’s largest mortgage originators, part of mega bank Wells Fargo, which operates some 5,000 branches across 36 states and Washington, D.C. For mortgage borrowers, the time from 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. Highly qualified borrowers, however, could receive a PriorityBuyer preapproval letter as soon as they apply online.

Good for

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

Loan types 

  • Conventional
  • Jumbo
  • FHA
  • VA
  • USDA
  • Fixed-rate
  • Adjustable-rate
  • Rate-and-term and cash-out refinancing
  • Construction and renovation loans
  • Investment property

Lender fees 

Wells Fargo’s lender fees vary. You can get a complete estimate of your 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.


Wells Fargo’s mortgage rates are available and updated regularly on the bank’s website. 


In J.D. Power’s latest study of mortgage origination customer satisfaction, Wells Fargo scored 832 out of 1,000, which is below the industry average. In terms of servicing, Wells Fargo scored 781 out of 1,000, also below the industry average.

Online services 

The Wells Fargo website offers loads of helpful resources for borrowers, including the My FirstHome digital education experience to help first-time homebuyers determine if they’re ready to stop renting. There are also calculators and comparison tools to help borrowers understand the costs of purchasing or refinancing. A convenient online chat tool connects you with a loan officer, as well, and once you apply for a loan online, you can use a tracking tool to monitor its status.

Minimum borrower requirements 

A 620 credit score, at minimum, will help you qualify for a mortgage from Wells Fargo. The bank is also willing to consider alternative credit data, such as utility bills and verification of rental payments, to help some borrowers qualify for certain loans. Maximum debt-to-income (DTI) ratios vary.

The bank also offers the “Dream. Plan. Home.” program, which requires a down payment of only 3 percent on a fixed-rate mortgage from buyers with combined qualifying income at or below 80 percent of the median family income (also known as “area median income,” or AMI) in the county where the property is located. 

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. Note that the bank is currently not offering standard VA refinancing, only VA Interest Rate Reduction Refinance Loans (IRRRLs).

Not sure if Wells Fargo Home Mortgage is right for you? Consider these alternatives 

Breakdown of Wells Fargo Home Mortgage overall review score

  • Affordability: 4/5
  • Availability: 5/5
  • Borrower experience: 4.7/5

Review methodology

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.

Wells Fargo Home Mortgage consumer reviews


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1 reviews

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100% of reviews would recommend this lender

0 of 0 rates honored

Review this lender

Write a review of your experience with Wells Fargo Bank.

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
Mortgage editor