Wells Fargo Mortgage Review 2025
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Our Take
4.5
Wells Fargo has significantly shrunk its mortgage business in the past two years, dropping from the third largest mortgage originator in 2023 to the twelfth largest in 2024. Most likely to appeal to jumbo loan borrowers, as it was still the fourth largest jumbo loan originator in the country last year.
Pros
- Borrowers can see customized mortgage rate estimates for conventional and VA loans.
- Offers relatively low interest rates, according to the latest federal data.
- Discounts may be available for existing Wells Fargo customers.
Cons
- Does not offer home equity loans or HELOCs.
- Borrowers need at least $250,000 in assets with the bank to qualify for a rate discount.
- Prospective borrowers may be put off by the lender’s past legal issues.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
 Visit Lenderat NBKC at NBKC | 620 | 3% | Visit Lenderat NBKC at NBKC |
 Visit Lenderat New American Funding at New American Funding | 580 | N/A | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC | 580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
 4.0 Visit Lenderat GO Mortgage at GO Mortgage | 620 | 3% | Visit Lenderat GO Mortgage at GO Mortgage |
 Visit Lenderat Veterans United at Veterans United | 620 | 0% | Visit Lenderat Veterans United at Veterans United |
Full Review
At a glance: Wells Fargo mortgage options
Wells Fargo is one of the largest banks in the nation and is based in San Francisco. Mortgages are available nationwide; however, the lender has actively shrunk its home loan business to focus on serving existing bank customers and minority communities.
Along with conventional mortgages and government-backed loans, Wells Fargo offers a 3% down payment mortgage for low-income borrowers called the “Dream. Plan. Home.” mortgage. Wells Fargo no longer offers home equity loans or lines of credit.
🏠 Common mortgages
Conventional loans (fixed-rate and adjustable)
Rate-and-term refinancing
Jumbo loans
FHA loans
VA loans
🔑 Specialty loans
• Dream. Plan. Home.
💵 Home equity
Cash-out refinancing
» MORE: How to choose a mortgage lender
Wells Fargo special offers and discounts
One thing that stood out in our research was Wells Fargo’s grant programs, as well as relationship discounts for existing customers.
Homebuyer Access Grant: $10,000 in down payment assistance for borrowers in eligible areas. Borrowers who earn up to 120% of the median area income may qualify.
Dream. Plan. Home. closing cost credit: Up to $5,000 for borrowers in eligible areas who earn no more than 80% of the area median income.
Borrowers with at least $250,000 in financial assets with Wells Fargo can qualify for mortgage rate discounts.
What does Wells Fargo specialize in?
A lender’s experience with your loan type can make a big difference. We looked at the latest federal data to find the types of mortgages Wells Fargo handles most often.
While conventional loans are the most common, Wells Fargo issues a good amount of jumbo loans, too. Among lenders surveyed by NerdWallet, Wells Fargo was in the top five for the percentage of mortgages that were jumbo loans in 2024.
How we score Wells Fargo
Each year, NerdWallet writers and editors dig into the latest data and independent research on mortgage lending. Then, we rate lenders based on categories that matter most to mortgage borrowers.
Wells Fargo has a NerdWallet home loans rating of 4.5 stars overall. Here’s a breakdown of this year’s score.
Category | Star rating |
|---|---|
Average mortgage rates and fees | |
Mortgage rate transparency | |
Variety of loan types | |
Customer experience | |
Overall star rating |
Ah, so you’re the “read the fine print” type? We got you. Here’s how our scoring rubric works.
Average mortgage rates and fees (30%)
We review federal data (as reported by the lenders) and analyze mortgage lenders’ average fees and interest rates across all loan types. Lenders with the lowest average costs get the highest star ratings. Keep in mind: Loans that are easier to qualify for, like FHA loans, usually have higher rates and fees because lenders see them as a higher risk. Pro tip: Paying some fees upfront can sometimes lower your interest rate.
Mortgage rate transparency (25%)
We look at how easy it is to compare mortgage rates online. Lenders get higher transparency ratings if they show sample rates on their website. (Not all lenders do!) The best ratings go to lenders that offer interactive tools that let you customize a rate quote on your own.
Variety of loan types (25%)
There’s no one-size-fits-all mortgage. Lenders earn top ratings in this category when they offer a large variety of mortgage types. The more variety, the higher their score. A lender earns points for purchase and refinance; fixed and adjustable rates; FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.
Customer experience (20%)
How easy is it to work with this lender? Top-rated lenders offer helpful features like online applications, multiple ways to get support, a user-friendly mobile app and clear updates about the loan closing timeline.
Wells Fargo bonus points and penalties
A bonus was awarded because Wells Fargo offers mortgages to borrowers with 600 credit scores.
Wells Fargo reputation and customer experience
NerdWallet’s star ratings look at objective factors like rates, fees and loan options. To give you a sense of what the borrower experience is really like, we pulled the latest customer satisfaction scores from J.D. Power and Zillow and we contacted the lender’s customer support.
2024 J.D. Power U.S. Mortgage Origination Satisfaction Study
731
out of 1,000
Slightly-above-average satisfaction score: average = 727.
Mortgage origination is the process of getting a new home loan.
2025 J.D. Power U.S. Mortgage Servicing Satisfaction Study
606
out of 1,000
Average satisfaction score: average = 596.
A mortgage servicer handles loan payments.
Zillow Mortgage Lender Customer Rating
4.96
out of 5
Excellent rating as of the date of publication. Rating reflects more than 4,400 customer reviews.
Potential concerns about Wells Fargo
While Wells Fargo has not faced any major regulatory actions related to its mortgage products in the past year, previous litigation against the lender may give some borrowers pause.
Wells Fargo customer service options
Here’s how you can get in touch with Wells Fargo.
Ways to reach Wells Fargo
Physical branches . . . . . . ✅ Phone support . . . . . . . . . ✅ Mobile app . . . . . . . . . . . . ✅ Online chat (bot) . . . . . . . ✅ Online chat (human) . . . . 🚫
» MORE: How to apply for a mortgage
🤓 Our Nerds say... new customers should go in person
Taylor Getler, lead writer, mortgages
Wells Fargo has a highly-rated mobile app that includes a virtual chat bot feature for current customers. However, mortgage features don’t seem to be available.
While mortgages are available nationwide, in-person mortgage support is limited to branches in Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Iowa, Maryland, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, South Carolina, South Dakota, Texas, Virginia, Washington, Wisconsin and Washington, D.C.
Borrowers can also get customer support over the phone, with special numbers listed online for military and home equity customers. However, these are geared primarily towards existing customers, and mortgage shoppers without a Wells Fargo account may be better off speaking to an employee in person.
When we called the lender, we had a bit of trouble connecting with an agent without having an existing account number. We eventually did speak with a representative who was able to answer our questions.
Alternatives to a Wells Fargo mortgage
Our biggest tip: Get offers from at least three different mortgage lenders. Comparison shopping can save you thousands of dollars. You can get rate quotes yourself, or work with a mortgage broker to shop around on your behalf.
If you like the idea of shopping with a large, well-known bank but are put off by Wells Fargo’s just-okay customer satisfaction ratings, you could be a good fit for Bank of America.
Alternatively, borrowers looking for unique loans with low down payment requirements may want to check out Citi.
Finally, jumbo loan borrowers should consider PNC Bank, which was NerdWallet’s 2025 award winner for the category.
» MORE: Best jumbo loan lenders
More from NerdWallet
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: average mortgage rates and origination fees, rate transparency to consumers, variety of loan types (purchase, refinance, fixed and adjustable, for example) and customer experience. Among the factors we consider in these categories are: options to apply for home loans online, typical time to close, mobile app experience, level of detail about mortgage rates on lender websites, and NerdWallet’s own analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These and other items inform detailed rubrics, which generate ratings from 1 star (poor) to 5 stars (excellent). Read more about how we rate mortgage lenders here.
