Wells Fargo Mortgage Review 2026

Wells Fargo overview

Founded in 1852, Wells Fargo Bank maintains more than 5,600 branch locations and 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 bank spokesperson, and the time to obtain a preapproval also varies. If you’re a highly-qualified borrower, you could receive a PriorityBuyer preapproval letter as soon as you apply online.

Pros and cons of Wells Fargo

How Bankrate scored Wells Fargo

Affordability: 5 out of 5 stars

Wells Fargo tends to offer attractive APRs on both conventional and government-backed loans, and participates in affordable housing programs. That combination of factors gives it a perfect 5 out of 5 stars for affordability.

• Interest rates: Wells Fargo’s advertised mortgage rates were well below Bankrate’s averages at the time of this review. 
• Down payment: Wells Fargo offers conventional loans for 3 percent down, FHA loans for as little as 3.5 percent down and VA loans with no minimum down payment requirement. The bank also provides up to $10,000 in down payment assistance to eligible homebuyers in more than 20 locations across the U.S.
• Closing costs: You can get a complete estimate of closing costs by inputting a few details on the Wells Fargo website, including your credit score, down payment and property address.

Availability: 5 out of 5 stars

Wells Fargo scores 5 out of 5 stars for availability. It offers many home loan options in every state.

• Home loans offered: Wells Fargo offers conventional, jumbo, FHA and VA loans.
• Footprint: The bank works with borrowers in all U.S. states and Washington, D.C.
• Where to find: You can apply for a mortgage with Wells Fargo online, by phone or in person at one of the bank’s 5,600-plus branch locations.

Borrower experience: 4.7 out of 5 stars

Wells Fargo scores 4.7 out of 5 stars for borrower experience. There are many ways to contact Wells Fargo for help applying for a mortgage. The bank also scored above-average in J.D. Power’s 2024 mortgage origination satisfaction report.

• Preapproval and application process: You can get preapproved with Wells Fargo online, over the phone or at a bank branch. If eligible, you could get a PriorityBuyer preapproval letter instantly online.
• Transparency: Wells Fargo shares current mortgage rates on its website, but to get a customized quote, you’ll have to contact a loan officer. When we called the Wells Fargo customer service line, we reached a representative quickly after answering just a few automated prompts. The rep asked us a few additional questions about our home loan goals before transferring us directly to a loan officer.
• Customer service: You can reach Wells Fargo’s mortgage customer service team at 877-510-2079, Monday through Friday from 8 a.m. to 9 p.m. ET or Saturdays 9 a.m. to 7 p.m. ET.

Wells Fargo reputation

Wells Fargo has been around since 1852, but in recent years, the bank has run afoul of regulators and become associated with some disreputable practices. It isn’t accredited by the Better Business Bureau and has a “bad” rating on Trustpilot based on more than 500 customer reviews at the time of this review.

What Bankrate users say about Wells Fargo 

The majority of Bankrate reviews reflect a positive borrower experience at Wells Fargo with low interest rates and a smooth process. There are exceptions, though, and plenty of users on Reddit have complained about frustrations with application delays and denials. 

Refinancing with Wells Fargo

Wells Fargo offers rate-and-term and cash-out refinancing options. You can compare refinance rates and get an estimate of your closing costs with the bank’s online calculator.