![]() To find current Wells Fargo mortgage rates in your area, you’ll need to visit Wells Fargo’s website to enter your geo-specific information or speak with a representative directly. Wells Fargo, as with all other financial institutions, will take a homeowner’s current debt load and history into consideration in deciding upon a refinancing rate. The Wells Fargo refinance rates are competitive. If you have a good history of being current on your payments and have not yet taken a HARP refinance, you could refinance your loan’s mortgage to a new one at today’s lower rates through Wells Fargo Mortgage. In many cases, an appraisal is not required and fewer documents are needed.īorrowers with regular Freddie Mac and Fannie Mae mortgages can refinance their mortgages even if they owe more than their homes are worth through the Home Affordable Refinance Program. The HARP program was created by the federal government, to make it easier for eligible homeowners to refinance their homes at a lower rate. ![]() Another giant advantage of VA loans is that most often, homeowners won’t have to pay for mortgage insurance, which can cost around. These rates can sometimes be a full percent lower than a traditional refinancing loan, which can result in substantial savings of the life of your loan. If you qualify for a VA loan you will be eligible for some of the lowest refinancing rates on the market. ![]() Though terms will vary, FHA loans often allow you to refinance up to 97.75 percent of your home’s value. If your credit score needs a bit of work, but refinancing is important to you, consider an FHA loan. In other words, if Wells Fargo was issuing 30-year mortgage refinances at 5.00 percent rates, a Wells Fargo jumbo refi would be just 5.25 percent.įederal Housing Authority loans are notorious for having flexible qualification requirements. Unlike other lenders, Wells Fargo’s premium is very small, frequently as little as 25 basis points. Like many lenders, Wells Fargo jumbo refinance mortgages carry higher interest rates than their conforming loans. Wells Fargo’s financial strength gives them the ability to offer competitive jumbo mortgage rates- or loans over the $417,000 limit that Fannie Mae and Freddie Mac impose. As long as you can qualify for a loan and do not plan to take cash out for remodeling or otherwise, this program makes it easy for you to refinance into a lower rate mortgage with reduced paperwork. This program has no application, appraisal, or closing fees and works completely online. As with most ARM loans, the rate is set for a set period of time, then will reset annually with a new rate that can be either higher or lower depending on market conditions.Įxisting Wells Fargo customers can take advantage of the bank’s online streamline program. Shorter terms usually mean lower interest rates, but significantly higher monthly payments. As with all fixed rate loans, the benefit is knowing what your interest rate will be for the life of your loan.Īdjustable-rate mortgages are shorter than traditional mortgage terms. Wells Fargo has a broad range of fixed products including 30-year mortgage rates and 15-year fixed mortgage loans.
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