Date: September 04, 2018 Age: 52 Gender: Male Marital Status: Married
Closing Fee
I don't like any of the closing fees. They make enough in interest off your mortgage and those fees are just more money in their pockets
Interest Rate
I got my interest rate when they were pretty low so i'm happy with wells fargo. they had the lowest rate of all the banks when i was looking
Loan Officer Service
She was very nice and always was available when i had a question or needed to give her paperwork
Overall Rating
Pros
it's very close to my house and i can pay every 2 weeks which is easier for me to do
Cons
how much they make off your mortgage in interest seems very unfair and with all the other fees on top
Date: September 04, 2018 Age: 35 Gender: Female Marital Status: Married
Closing Fee
Our lender offered a $1,000 towards our closing cost and this was the primary reason we chose them. Also, because our realtor suggested this company and had done lots of previous work with this lender.
Interest Rate
We have had our mortgage for four years. We got ours when interest rates were at an all low. I believe we have a 3.25%. Most lenders were offering this rate, but our lender offered $1,000 to apply to our closing cost.
Loan Officer Service
Our loan officer was very attentive and very patient. She was very easy to work with. Even after four years she still sends us Christmas cards.
Overall Rating
Pros
I like all the stuff we have access to online. I like that we can do paperless billing. I appreciate when our escrow went up and I forgot to increase my monthly payment they did not charge an additional fees for my mistake.
Cons
Date: September 04, 2018 Age: 63 Gender: Female Marital Status: Married
Closing Fee
The closing costs were very average with my Lender when I got my loan. I think closing costs overall are high, but I paid no more than I would have with a different lender.
Interest Rate
My interest rate was slightly better than other lenders when I got the loan and is much better than the rates of other lenders now. I am locked into a low rate and interest rates have gone up since taking out the loan.
Loan Officer Service
The service provided by my loan officer was excellent. He did everything in a timely manner, answered all the questions that I asked and took care of everything he could for us, making our purchase quite simple.
Overall Rating
Pros
I have banked with Wells Fargo for many years. I personally have never had anything but good service from them, in both the locations that I have dealt with. They are friendly and knowledgeable. I have not had a complaint with them in the many years I have worked with them.
Cons
I personally have nothing I dislike about Wells Fargo. I have had some concerns with the bad press they have gotten for some shady business practices in recent years, but I have not be affected by those practices.
Date: September 04, 2018 Age: 44 Gender: Male Marital Status: Married
Closing Fee
Closing costs are the same everywhere and our ridiculous everyone is taking a chunk out of you for stupid pointless fees.
Interest Rate
It was the cheapest rate we got and they lowered it more with various discounts.
Loan Officer Service
Our loan officer was very incompetent and when we ran into problems that were their fault they did nothing to help.
Overall Rating
Pros
I like the low-interest rate and fast approval.
Cons
The closing was a nightmare and due to incompetence
Date: September 01, 2018 Age: 27 Gender: Male Marital Status: Married
Closing Fee
The closing costs were all known to me and there were no hidden fees on anything. I felt like I was getting a great deal here.
Interest Rate
Other lenders do not have as good of policies as this one. I really trust this bank and they always do good things for me. I am very glad to have them at my side.
Loan Officer Service
The loan officer did a great job and was very helpful. They knew their stuff very well and they made me feel good through the whole process.
Overall Rating
Pros
I like the people that work there and the customer service they give to people. They do their best to make sure we are taken care of.
I hate closing costs/fees! They make no sense. I don't understand why all that money has to go somewhere not applied to the principle. There is no good explanation for this.
Interest Rate
I would say my interest rate falls somewhere in the middle, I just wish it was lower. Given the cost of house and the economy I don't understand why an interest rate has to be so high.
Loan Officer Service
These people are fake and work on commission. They are about as bad as a car salesman. They are polite to your face but really they are stealing you blind and you know it.
Overall Rating
Pros
I suppose if I had to find something positive to say about the lending operation as a whole it's that you can borrow money for something you can't pay off immediately with cash.
Cons
There's nothing I like about the lending institution or system as a whole. I should just be able to make a payment and have all the money go to the principle. I hate that more money goes to some vague office somewhere and not for the actual house.
Date: September 01, 2018 Age: 37 Gender: Male Marital Status: Unmarried
Closing Fee
Closing costs are a joke. Banks make so much money off the interest of loans I do not feel they should be charging closing fees like they do.
Interest Rate
We financed when rates were really low and were able to get an amazing percentage. Wells offers many loan options which is always nice.
Loan Officer Service
I hate dealing with people that I can't see in person and having to rely on 100% interaction over the phone or email.
Overall Rating
Pros
The only thing I really like about Wells Fargo is that they are locations just about everywhere, so i don't have to worry about finding an ATM in new cities etc.
Cons
I wouldn't say I like very much about it. Wells Fargo is a huge institution where everything is not personalized at all. Feels very cold and greedy.
Date: September 01, 2018 Age: 36 Gender: Female Marital Status: Married
Closing Fee
We had to pay approximately $2300, but I don't remember exactly what it was for. Maybe a downpayment? The sellers paid the closing costs so I know we didn't pay that.
Interest Rate
I feel it's fairly low compared to others. At least when we got our loan it was. I haven't done any research to see what else is out there now.
Loan Officer Service
He was the father of a family friend and was very friendly and helpful in explaining what all we needed to do and each step in the process.
Overall Rating
Pros
It's a familiar bank and a very large bank at which we already had accounts. It made it easy because we were already familiar with the bank.
Cons
There are no physical banking locations in our city or within probably 100 miles. While we can do most everything online, if we needed to go to a location, that's a long drive to get to one.
Date: September 01, 2018 Age: 28 Gender: Male Marital Status: Married
Closing Fee
The fees and closing costs with this bank were the best for me. They were not too bad and I did not mind them at all.
Interest Rate
The other lenders did not really have a transparent system in my opinion. There were too many things that confused me about them.
Loan Officer Service
The loan officer was really great. They were very smart and they made us feel very good about the whole process. It was easy with them.
Overall Rating
Pros
I like that they care about the customer and they do their best to make sure we get the best service possible. I am glad that I use them.
Cons
Date: September 01, 2018 Age: 50 Gender: Female Marital Status: Married
Closing Fee
We were offered no closing fees the last time I refinanced my loan. I was able to change my loan from a 30 year to a 15 year fixed at no charge whatsoever. I was 100% satisfied with that!
Interest Rate
I believe that Wells Fargo offers a competitive rate and good customer service. I don't think that Wells Fargo is any higher or lower than any other lending institution available.
Loan Officer Service
The loan officer travels from one bank to another so she was able to meet with me at my local bank. This was extremely convenient for me. I rate this loan officer a 4 because she was late arriving at my appointment and did not apologize for being tardy.
Overall Rating
Pros
Wells Fargo has always offered excellent customer service. I cannot think of one time in 25 years of doing business with them (including Wachovia prior), that I ever had an issue with them.
Cons
I have no complaints whatsoever regarding this bank. The only thing that I would like is to have cash-back rewards attached to my debit card.
Date: September 01, 2018 Age: 63 Gender: Female Marital Status: Married
Closing Fee
I do feel I paid to much for closing costs when I refinanced. I have since seen many ads promoting much better fees and interest rate. I guess that is a lesson learned.
Interest Rate
I refinanced this loan at an earlier date before the rates dropped as low as they are now. It would not be advantageous for me to refinance again with the costs involved. If I had waited a little while to refinance I would have gotten a better rate. I'm not really sure how this lender compares to others at this point.
Loan Officer Service
Looking back, he seemed quite pushy for me to make a decision, and when I did it was the wrong one. He was more focused on getting his commission than what he could do that would be in my best interest.
Overall Rating
Pros
On a positive note he was very flexible about the date, time and place of closing. He even came to my place of business to close. Paperwork was quite painless as well.
Cons
Since I have closed years ago Wells Fargo has been in the news for all the wrong reasons. They opened accounts in customers' names without permission and I believe there has been other instances of deception. I would not use them again.
Closing costs are high compared to rates offered by other lending companies. There are a lot of choices out there now, so it's much easier to find lower cost loans.
Interest Rate
At the time a procured the loan, the rate was competitive, but it is not at the current time.
Loan Officer Service
I never met with a loan officer, so I don't really have an opinion. My credit score was good enough during the period - and it was during the "lend to anyone" period - that getting the loan was very easy.
Overall Rating
Pros
They've been consistent. I've had no problems or issues with them making mistakes that I've had to correct. They don't seem to have used the fact that I have a loan with them to inundate me with "offers" for all of their other bank services.
Cons
Date: September 01, 2018 Age: 59 Gender: Male Marital Status: Married
Closing Fee
yes we are pleased in the fact that there were no closing costs when we purchased our home and will be for a long time
Interest Rate
we have a 3 % interest rate and are very pleased with our loan and our mortgage it is very affordable and appealing
Loan Officer Service
the loan officer helped us through the whole process and was even there at the closing and we are very thankful for his help
Overall Rating
Pros
the Wells Fargo bank has made it easy to pay our mortgage and is there for us when we need them and we will use them for all our banking needs
Cons
Date: September 01, 2018 Age: 51 Gender: Female Marital Status: Married
Closing Fee
I'd say the fees Wells Fargo charged were about average for the Central Texas area in the early 2000s. It helped that I was able to roll the fees into the mortgage.
Interest Rate
I am paying a high rate of interest because when I first took out the mortgage interest rates were higher than they are now. I haven't been able to refinance because I own a manufactured home on land, and I can't find a lender.
Loan Officer Service
In my opinion, the loan officer did an adequate job, but nothing special. It was a straightforward fixed rate mortgage which didn't require much work or expertise.
Overall Rating
Pros
The main point in their favor is that they were willing to finance a manufactured home on land in the first place. The employees I've dealt with have all been competent and polite.
Cons
I dislike the fact that they won't consider refinancing my mortgage at a lower rate of interest. I have never missed a payment or been late with one, but I can't get a refinance from them.
Date: September 01, 2018 Age: 37 Gender: Male Marital Status: Married
Closing Fee
Bank covered all the costs but this was over 5 years ago. I am sure now would be different
Interest Rate
My rate is a 10-year arm at 4%, I am happy with the rate but wish I could extend the 10 years
Loan Officer Service
She was fantastic. The house was out of our budget which is why she put on a 10 year ARM at a lower rate
Overall Rating
Pros
We got our dream home at the price that we could afford. We are worried about year 11 though of the rate
Cons
I hate and like the 10 years ARM. I understand I needed it but now I can't refi and seem to be stuck
Date: September 01, 2018 Age: 41 Gender: Male Marital Status: Unmarried
Closing Fee
I believe that all closing costs with every company in my state are incredibly high. Ours were more than $10,000. This makes saving for a down payment or having a down payment at all very cost prohibitive for the average family.
Interest Rate
This was a lender I purposely didn't choose. I wanted to go with a smaller local lender. Within the first month of having my mortgage, I received 3 different notices saying my loan had been sold to different companies. Eventually, this is the company I ended up with.
Loan Officer Service
The loan officer at my local small bank was very concise. All of my questions we answered in a timely manner. When I ran into snags or issues she was competent and helpful. I felt confident in the process.
Overall Rating
Pros
I can't think of anything positive to say. When questions have come up it is impossible to get to a person on the phone. The online platform is difficult to use and has never provided me with the answers I was looking for.
Cons
I don't like that the institution is so large. There is nothing personal about the experiences there and I don't feel like my questions or time is important.
Date: August 31, 2018 Age: 40 Gender: Female Marital Status: Married
Closing Fee
There are so many fees involved with closing. I understand some fees. But charging to print the papers is ridiculous. Also a notary does not make $30.00 for notarizing a document.
Interest Rate
We were encouraged to refinance to lower our interest rate and payment. It lowered it about $200.00 which was helpful. But now because of taxes and insurance we are right back at our original payment.
Loan Officer Service
He was nice. But I do feel like he left out some important details. Once he realized we needed a lower payment I feel like he got the payment lowered but did not inform us that the pmi would remain on there.
Overall Rating
Pros
At the time of purchase they had the best rate, They were also able to get our loan processed quickly.
Cons
Hidden fees, hidden costs, the way they make you feel when you ask questions.
Date: August 30, 2018 Age: 39 Gender: Male Marital Status: Married
Closing Fee
I got good closing costs for the time. Nothing was unexpected. Of course I would love a lower cost, but I think I did good on this as well.
Interest Rate
I got a good rate for the time, or at least an average rate. I think it's like 4%. Of course I would love a lower rate, but I think I did good.
Loan Officer Service
He was very friendly and amicable towards me. He made me feel reassured and comfortable in what would have been a nerve wracking deal.
Overall Rating
Pros
I like the fact that there haven't been any unexpected surprises. I make my payments on time, and that's about it.
Cons
Date: August 30, 2018 Age: 40 Gender: Female Marital Status: Married
Closing Fee
I think the closing costs were fair. They were pretty typical of the general closing cost fees for that time. I have no complaints in that regard.
Interest Rate
I am fairly satisfied with my interest rate. It is not nearly as good as it could be, but that is because we have never refinanced. We could have gotten a lower interest rate after the market crash. But, we never refinanced, and our interest rate has stayed the same. I am sometimes tempted to refinance and go with a more competitive rate.
Loan Officer Service
The Loan officer was kind and informative. Unfortunately, we bought our house right before the market crash, and there was no way that anyone could have predicted the dramatic loss in value our home would incur over the next few years.
Overall Rating
Pros
It was convenient going with a lender that I also bank with. This made it easy to pay monthly mortgage bills, set up escrow, etc. But, I don't think I would go with a big national lending company again.
Cons
Overall, I dislike the lending institution. I bank with this company and have been with them for over 20 years. The customer service is terrible. They are parasitic, charge outlandish fees, and basically bleed you dry over time. I would recommend going with a smaller and more trusted local company.
Date: August 30, 2018 Age: 27 Gender: Male Marital Status: Married
Closing Fee
Compared to others, the closing cost is something that I was confused about, but upon doing it, it was easy and much faster than I thought.
Interest Rate
This lender is really great and their customer service is the best that I have ever worked with. I give them a ten out of ten when it comes to customer service.
Loan Officer Service
The loan officer was kind and they knew a lot. They made me feel good about the whole process and I am glad I had them.
Overall Rating
Pros
I like the customer service, which I consider to be the best around. I like that they care about people and love us for who we are.
Cons
There is nothing that I dislike about the place as a whole. I think that they are the best around and they will always be my favorite bank.
Date: July 29, 2018 Age: 48 Gender: Female Marital Status: Married
Closing Fee
their low fees are the reason I went with Wells Fargo and I already had an account there so my fees were lower
Interest Rate
It was nice to be able to go in and speak with someone face to face. Also to be able to pay a certain amount every 2 weeks is very helpful
Loan Officer Service
She was very nice and available in person every time I went in. It made it easier to bring in paperwork instead of doing everything through emails
Overall Rating
Pros
Wells Fargo has been a trusted back for a very long time and they are everywhere. So,I can make a house payment whenever I wanted.
Cons
I never like paying closing fees on top of all the interest they will make off my home mortgage, but you have to pay that for all of them
Date: July 29, 2018 Age: 34 Gender: Male Marital Status: Married
Closing Fee
I think our closing cost were very manageable, only around $2000, though we did not investigate closing costs with other companies once we decided to go with Wells Fargo.
Interest Rate
My interest rate is 3.75%, when we were financing and compared to other lenders Wells Fargo was the only sub 4% we found without digging too deep.
Loan Officer Service
They were extremely professional, they explained every step of the process and made sure we were aware of what we were doing the whole way.
Overall Rating
Pros
They offered very competitive rates, they had the great staff that was available to walk us through the process and, because we already bank with Wells Fargo, they already had our information so it made paperwork easier.
Cons
With the convenience of a big bank comes the downside that EVERYTHING is tied up with one entity. I would have preferred to go with a smaller bank to spread out our accounts, but the low rate was too tempting.
Date: July 29, 2018 Age: 32 Gender: Male Marital Status: Married
Closing Fee
I was pretty satisfied that my closing was cheaper than others. It was around 15000$.
Interest Rate
My interest rate from Wells Fargo was 4% which was pretty much the same as others however I did not have to pay any points.
Loan Officer Service
My loan officer was a family friend and he was very helpful. His name was John Piccone.
Overall Rating
Pros
I like how I can do everything online. I do not like calling people I am very busy.
Cons
I do not like paying them. I also do not like allowing them to hold my money in escrow.
Date: July 29, 2018 Age: 32 Gender: Male Marital Status: Married
Closing Fee
Ended up being about 6000 dollars. I thought it would have been around 4000 dollars. I really didn't get into all of the closing costs with all of the prospective lenders so don't really know
Interest Rate
Got 2.75% and most everyone else was similar. Some a little higher. Didn't find any lower. Went with Wells Fargo because I bank with them and easier to pay the mortgage
Loan Officer Service
He was fine just really really slow. At typing. At talking. At everything. I would have appreciated someone that got things done quicker
Overall Rating
Pros
It is a big bank so can't really complain too much. I knew what I was getting and there weren't really any surprises.
Cons
Feel like I'm feeding the man by going with a big bank. Would rather have gone with a smaller bank but they couldn't really offer any better rates.
Date: July 29, 2018 Age: 30 Gender: Female Marital Status: Married
Closing Fee
Our closing costs were below $10,000, I want to say it was around $4000, so I'd say it was about average for the range of our credit scores at the time.
Interest Rate
My husband and I bought our home during a time when interest rates were at a record low, so our interest rate is around 3.7%
Loan Officer Service
We received exceptional service from our loan officer. He went above and beyond to make the process as smooth and quick as possible so that we could get into our home as quickly as possible.
Overall Rating
Pros
Our bank made things as easy as possible when my husband and I were in the home buying process. As first-time homeowners, there were no issues in getting our loan approved and secured.
Cons
There is nothing that I dislike about our lending institution. They've always made things as easy as possible for us in regards to payments, etc.
Date: July 28, 2018 Age: 40 Gender: Male Marital Status: Married
Closing Fee
Closing costs were covered by the seller, which was very helpful. I don't think they should even exist, but they are what they are.
Interest Rate
My lender was very competitive. We shopped around and have very good credit. It wasn't hard to find a good rate and our lender probably only beat the others by a fraction of a percent, but it was enough.
Loan Officer Service
Our loan officer was easy to contact by email and phone and via the website, but I don't feel like we got any kind of special attention. That's fine because we didn't have special circumstances and are very independent and self-reliant in most things.
Overall Rating
Pros
First and foremost, we liked the rate. That's what it all came down to, price. Most all of the services were the same, and since money was our top priority once we found the right home, it didn't need to be much more than that.
Cons
We did not dislike much. We didn't have high expectations. I think they could have probably been more proactive in contacting us throughout the process personally, but at the end of the day, we contacted them and it was fine.
The closing costs and fees that I incurred through Wells Fargo were pretty much the same as other lenders charge. I was aware of them up front, so there were no surprises at closing.
Interest Rate
I financed my home through Wells Fargo, at the recommendation of my real estate agent. I looked online and compared the rate that they offered with the rates other institutions were offering, and it was pretty much the same as all of the other lenders for a 30 year fixed mortgage.
Loan Officer Service
I was fairly happy with my Loan Officer. I applied online, but then met with him in his office and he went through all of the fees, the process, etc. He was very thorough and very friendly.
Overall Rating
Pros
I like that Wells Fargo is a large company and that I can access my information/pay my mortgage payments online, but I also have a local agent that I can speak to if I have questions or need help with something.
Cons
I can't think of anything that I dislike about Wells Fargo. Overall, I was very happy with the closing process and have never had any issues with them since the inception of my mortgage.
Date: July 28, 2018 Age: 42 Gender: Male Marital Status: Married
Closing Fee
Wells Fargo was very upfront with us, telling us exactly the cash we would need at closing, and even giving us options on what we could put on our loan and what we needed out of pocket well in advance.
Interest Rate
Wells Fargo gave us the best interest rate available to my wife and me on a fixed income. Bank of America would hardly even talk to us, but all of the small-time loan places were drooling over our fixed income. But the small-time places were almost twice as much interest rates at Wells Fargo.
Loan Officer Service
Wells Fargo helped us every step of the way. They helped us deal with realtors. They helped us with our paperwork and even helped us apply for LIHEAP and EBT.
Overall Rating
Pros
Wells Fargo was very upfront with us, telling us exactly the cash we would need at closing, and even giving us options on what we could put on our loan and what we needed out of pocket well in advance.
Wells Fargo helped us every step of the way. They helped us deal with realtors. They helped us with our paperwork, and even helped us apply for LIHEAP and EBT.
They're on par with other companies. I didn't pay the closing costs the seller covered them. But Wells Fargo was average.
Interest Rate
At the time I purchased, all rates were relatively low. Considering I had to use a first time home buyer government program, I believe my rate was excellent. I wasn't able to shop around much at the time, as my home is manufactured, and only Wells Fargo was willing to be a lender.
Loan Officer Service
It took forever to get through underwriting. I mean forever. They nitpicked every little thing of the past 5 years of my financial life. The loan officer wasn't so great at helping to get things pushed through or communicating.
Overall Rating
Pros
If not for Wells Fargo, I wouldn't have been able to purchase my home, as no other lenders were willing to take on a manufactured home mortgage. They have also been very flexible with how I make payments. My pay schedule is every two weeks on the day I get paid.
Cons
Getting through underwriting took months, and I didn't have a complicated financial background. Plus, the company has a negative reputation ever since the housing market collapsed.
Date: July 28, 2018 Age: 27 Gender: male Marital Status: Married
Closing Fee
This lender has a much better process. I was utterly confused by the fees and the closing costs of other companies and liked the one I chose a lot more.
Interest Rate
This lender is transparent. The other ones I have worked with have always had things that confused me a lot. I prefer the ones that are transparent.
Loan Officer Service
The loan officer took me step by step and made everything easy for me. I did not have any issues figuring anything out with this loan officer. They were there for me always.
Overall Rating
Pros
The bank already had a very good reputation when I started contacting them. That was even more clear when I went through the process. They were great.
Cons
I do not have anything that I dislike. If I did, I would have withdrawn from the process and not bought anything. They were great to work with.
Date: July 28, 2018 Age: 32 Gender: Female Marital Status: Married
Closing Fee
There wasn't very much regarding any extra/hidden fees, as the loan is a VA loan there were rules against that sort of thing.
Interest Rate
We have an extremely low interest rate. It was locked in at one of the lowest rates I had seen in mortgages for a 30-year fixed.
Loan Officer Service
He was very easy to work with, very helpful as to the steps we needed to take to expedite the home buying process and making it as easy as possible for us.
Overall Rating
Pros
We have been with Wells Fargo for years. Although they have had their issues, we have never had any problems with them. They have always been friendly and great to work with.
Cons
Probably my only complaint is that since we moved to a different location, we don't have access to any physical locations of the bank itself.
Date: July 27, 2018 Age: 63 Gender: Female Marital Status: Married
Closing Fee
Our closing costs were somewhat higher than the state we had moved from, but overall, we were told that they were the same as other lenders at the time.
Interest Rate
My rate of interest is 3.5 percent which was comparable to others at the time I got the mortgage. We got a slight;y better rate for a high credit rating.
Loan Officer Service
The loan officer was very good at responding to questions, and to getting things done in a timely manner.
Overall Rating
Pros
I had used Wells Fargo for prior mortgages and I had always found them easy to deal with. This time was no different.
Cons
The only thing I dislike is the information that came out about their business practices after we had our mortgage. It did not affect me, but I did not like hearing it.
Date: June 21, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
There were some fees that I didn't agree with that I felt that the mortgage company was overcharging us for so I didn't like that.
Interest Rate
I feel like the interest rate is fair. It seems to be comparable to the average rate currently and maybe a little better than most rates. I feel like we have been able to buy more house since rates are so low right now.
Loan Officer Service
I am happy with the information, he was informative, kept in contact with me quickly if they needed additional documentation. Explained things thoroughly about the process.
Overall Rating
Pros
I felt that the process was transparent and I feel fortunate that the bank took a chance on us and decided to lend us money since our credit isn't great.
Cons
I don't like all the extra documentation that is required. If I provided one thing, they wanted it formatted another way and wanted it again. They requested the same docs repeatedly which was time-consuming and annoying.
Date: June 20, 2018 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
It was added to the balance of my loan at the time ...a few thousand dollars so it didn't cost me any upfront money at the time.
Interest Rate
It was a refi loan a couple years ago. It is still lower than what is currently offered so I am fairly happy about it, however, would like to get it down to 3% or lower is possible but don't really want to refi right now.
Loan Officer Service
I have had no issues or problems with current lender. When I have questions, they are quick to answer and resolve any issues.
Overall Rating
Pros
It was online refi. I communicated with questions and answers via email. They were quick to reply. Sold loan to Wells Fargo.
Cons
A downside was I never actually talked to someone but it's also a positive too. They did sale the loan to the larger bank Wells Fargo, but I haven't have any problems.
Date: June 20, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
This company was average compared to the other lenders. I still felt as though they were good though in comparison to the others out there.
Interest Rate
The other lenders are harder to deal with. I found that the other ones had a much more intricate process.
Loan Officer Service
The loan officer here was very kind and I knew that this person was going to help us out a lot in our home search.
Overall Rating
Pros
The bank did a great job and I am glad that I used them. They work hard to make sure that I get what I need from a mortgage.
Cons
There is not a thing that I disliked about the bank. I liked the bank a lot and I was very glad to use them.
Date: June 20, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Similar to others since my company was covering my closing cost as part of a relocation package
Interest Rate
The similar rate at the time when I was looking for a mortgage
Loan Officer Service
Prompt, but not super knowledgeable, but it's okay
Overall Rating
Pros
Fairly easy to handle things digitally and having documents available online
Cons
It was a pain to changing billing for insurance payments
Date: June 19, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Interest Rate
I feel like it was average to other lenders at the time.
Loan Officer Service
They were both very nice and very easy to work with.
Overall Rating
Pros
We use the same lender for our banking so it worked out well.
Cons
I like using Wells Fargo because we also use them for a line of credit and our regular banking.
Date: June 19, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Yes, I don't think the closing costs were out of the norm and they only slightly increased our expected costs. I do feel that the agent commission is far too high, given the little amount of work done by the agent, but that isn't precisely an aspect of the closing costs.
Interest Rate
The interest rate for my lender was among the lowest if not the absolute lowest offered in our area. The bank is also well-regarded in the area, so it was a win-win.
Loan Officer Service
Our loan officer was quite mattered of fact and gave us a clear explanation of all the things covered by our loan agreement. He wasn't particularly a nice man, but he did a fine job for us.
Overall Rating
Pros
I think our bank offers a great rate for its loans and is a very stable presence in our community. Many folks around us use the same bank and nobody has ever mentioned having any problems with the bank. Nor have I ever experienced any trouble working with them.
Cons
If I had to nitpick, the website for my bank 4-5 years ago wasn't great. The payment system didn't allow bi-weekly payments, nor did it allow easy payments above the minimum required. Only after about 2-3 years did it begin to allow such things.
Date: June 19, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
I bought my home in a buyers market the seller was desperate and paid my closing costs.
Interest Rate
The rate is currently at 3.5% variable do to a refi about 5 years ago. I think it's about the same as most lenders today although with the new administration that will go up dramatically I suspect. I hear that interest rate will be going up soon.
Loan Officer Service
My (our) first loan offer was the best. I think she still works for the bank but makes in the day our loan was sold many times and well it was just a big mess for awhile. We just pay our huge Mortage now with no real thought about loan officers. :((
Date: June 19, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
We had a VA Loan and rolled all the costs in, so to be completely honest, I did not look at them as closely as I probably should have. I think the VA puts caps on a lot of the costs, so I felt (naively) safe
Interest Rate
It seemed to be right on target with other companies that we were looking at. Everyone was somewhere right around 5% and our is exactly that
Loan Officer Service
We spoke one time very briefly on the phone and the rest was done via email, which I LOVED and preferred. I am busy and I do not enjoy talking on the phone
Overall Rating
Pros
It was just easy. We spoke on the phone, filled out forms online, sent in scans of information and everything literally seemed to just fall into place.
Cons
iWe had no problems, however, since then, Wells Fargo has had lots of negative things come up. I do something wish we were not "supporting" a company that really treated a lot of customers very badly
Date: June 19, 2018 Age: >60 years Gender: Female Marital Status: Unmarried
Closing Fee
All the closing costs were put into my mortgage, therefore I did not have to pay them upfront
Interest Rate
my interest rate is 4.5%. I think that because of my low credit score, I can be thankful that it is this low.
Loan Officer Service
My loan officer did all he could for me including getting my credit score up so that he could go through with the mortgage
Overall Rating
Pros
They did everything they possibly could to get my mortgage for me. The loan officer helped me with my credit score so that I would be approved.
Cons
The only thing that I disliked was sometimes they were not available to answer my questions when I would be confused about something.
Date: June 18, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
We didn't have to pay any closing costs so I was happy. It was pretty much straightforward.
Interest Rate
It was comparable to interest rates of other lenders. It was a rural development loan. It was a fairly easy process.
Loan Officer Service
My loan officer always kept us informed. We could ask him any questions. I would recommend him to anyone. He's a very honest man and I appreciated his help.
Overall Rating
Pros
We had to deal with a very crooked realtor so the help we received from this lender and the loan officer made up for the bad experience with the realtor. As for the loan experience itself, everything was upfront, honest and in order.
Cons
The only thing I didn't like about the lending bank was sometimes I felt a little intimidated when going in to ask for the loan officer. Everyone was nice but I felt like I had to go through the gatekeepers first. It felt a little uncomfortable.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
We did not research closing cost fees and were surprised when we had to pay almost $3000 in additional costs dealing with closing.
Interest Rate
Wells Fargo had a 5.75%. Chase offered 6.00% CitiBank offered 5.85%. Local bank flushing bank offered 7%
Loan Officer Service
They helped us secure enough money to be able to make an offer on the house. The service was quick and I was generally happy but was shocked at some of the costs.
Overall Rating
Pros
I felt confident that we would be able to secure the loan and make an offer on the house in time. My loan officer was very confident in his ability to work under tight constraints.
Cons
I wish I knew the total upfront costs entirely of all closing costs, but it seems they fluctuate somewhat. I still think it's not the best practice.
Date: June 18, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
They always put small hidden charges that add up. If you are on a tight budget it really hurts and harms your chances of getting a home.
Interest Rate
It was cheaper than other companies and they took an extra .25% off if we took an online class on mortgages.
Loan Officer Service
They screwed up in hiring an appraiser who did not show up for almost two months and refused to fire him and get a new person. I had to pay rent on the house we were trying to buy for a month and a half.
Overall Rating
Pros
I liked the mortgage rate and did help us save on our monthly bill. They were really good up front but as time went on they got worse and worse.
Cons
Once there was an issue they did nothing and were impossible to get a hold of. My wife practically had to call three for four times a day to get anyone and them just to get them to do their jobs.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I didn't think their fees were any cheaper than anywhere else. In fact, some fees seemed to be on the high side in my opinion.
Interest Rate
I thought they were pretty competitive overall but was hoping they would let me lock a slightly lower rate since they are so big.
Loan Officer Service
The officer was good enough. She was communicative when the need is but not overbearing. It did take a few days to get some replies to emails.
Overall Rating
Pros
Overall, easy to talk to in terms of having good hours of availability and an online experience that was really easy to use.
Cons
Fees are a bit high compared to other lending groups, but being a big bank, they should have been more competitive overall I believe.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
Everything seemed pretty standard and straightforward there, there were no surprises, and the fees, in general, were pretty low - the purchase was a private sale by owner, and I had the unusual situation of buying my home from my landlord - so I didn't actually have to move; I had already lived here for about 6 years at the time. The seller took care of some of the fees for me, like the survey, title check, and appraisal. The fees for the mortgage itself were pretty standard, and I was actually given a $500 gift card through a special promotion my loan officer helped me qualify for, that canceled out a chunk of the fees on top of that.
Interest Rate
I honestly didn't shop around too much for interest rates; rates were very low in general at the time, and I have excellent credit, and so the rate I received was 3.625%. It was comparable across the board, and shopping around was splitting hairs over small fractions of a percent. I recall the rate was definitely slightly better than what my local bank (whom I asked first) offered, though I do not recall exactly the amount. The mortgage consultant who helped me came strongly recommended by a trusted friend with a lot of experience buying properties, and that played a bigger role when comparing my options than anything else. I was willing to forego 0.01% or whatever the small difference was, for peace of mind I had somebody honest and helpful taking care of me.
Loan Officer Service
My loan officer was extremely helpful and gave a lot of extra advice on the process that didn't even have anything to do with the loan itself. Like said, we did a private sale by owner - without real estate agents involved, and this being my first purchase, I had no idea how anything worked, and he stepped me through the whole process. My loan is an FHA loan, and the FHA rules changed approximately 5 years ago when I was going through the process. (I believe you have to pay mortgage insurance for the duration of the loan now; back then the rule was you could cancel it after 5 years if you've reached a certain LTV.) My loan officer went above and beyond to make sure my paperwork was in and taken care of, and we got it in literally the day before the change went into effect, so that I'd fall under the old rules. It was a little stressful but he made sure to over-night documents that needed to be signed and that sort of thing to ensure it all came together on time. I'm coming up on my 5 year anniversary in July - and looking forward to the savings from canceling the mortgage insurance!
Overall Rating
Pros
My mortgage is the only product I've ever gotten from Wells Fargo; they aren't conveniently located to do other banking with. But my loan officer was absolutely amazing, and now that I'm in repayment, everything has been smooth and simple. Their online payment system is easy and works. I've had no issues or need to really contact them since.
Cons
I really don't have anything to complain about. If I had to really nitpick, the first couple years they seemed to have trouble calculating my escrow, and my payments would change annually. I know that's fairly common as taxes & insurance change anyway, but the first year or two was really drastic. Luckily on year one, they were charging me too much - so I actually got a large refund. Then the second year they under-charged and my payments went up significantly. It seems to have settled down and everything is more accurate now though, and the payments change very little and I know what to expect.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I am satisfied with the closing costs because we did not pay any. The fees were rolled in with our loan and they were very reasonable. We did not have to pay anything out of our own pockets.
Interest Rate
My interest rate is very low compared to others. I have an interest rate of 3.25 percent. It's so low in fact that when I receive calls now about refinancing most of the time it becomes a deal breaker because most other banks cant get an interest rate near that.
Loan Officer Service
Our loan office was fine. They did a good job and kept us updated on what was going on. There were a few hiccups in the process but nothing I can really point to being her fault. There were a few occasions I had trouble reaching her when we needed to speak to her but otherwise, it went as expected.
Overall Rating
Pros
Our lending institution has been very upfront with us about everything. Whenever there are changes they are available to speak to. They send out communications regularly on anything going on with our loan.
Cons
The only thing I dislike is that they are a large bank and sometimes when I call in to discuss something I may get a rep who is not fully versed in what is going on. I have to wait some time for them to get up to speed or find someone more knowledgeable to answer my questions.
Date: June 18, 2018 Age: >60 years Gender: Female Marital Status: Married
Closing Fee
There was no closing cost other than the usual taxes and escrow prepayment
Interest Rate
I got the best interest rate at the time, which was 4.65%, with no points and no closing costs.
Loan Officer Service
The loan officer was friendly and very knowledgeable. He took us through the process from beginning to end, clarifying and helping me with all the details along the way. He was also always available to answer any questions I had.
Overall Rating
Pros
They were easy to reach and the paperwork was clearly defined
Cons
I have nothing that I dislike about the lending institution/bank. They were terrific throughout the process.
Date: June 18, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
It was actually less than we thought it would be. So we were very happy about the closing fees and relieved.
Interest Rate
the rates were very much all the same at the time. So, we went with the Bank we had all other accounts with to make it smoother
Loan Officer Service
No, he was young and inexperienced. we had to make several calls to reach him and he was not quick on follow-ups.
Overall Rating
Pros
we have many accounts there and so things and rates were good. The closing fees were less than we thought it would be
Cons
The guy who helped us and went to the closing seemed too inexperienced. Maybe we were his first closing
Date: June 18, 2018 Age: >60 years Gender: Female Marital Status: Unmarried
Closing Fee
I do not remember the original closing costs. Since we did not have any money, I am sure we just added the closing costs into our mortgage loan. That is also what I did when I refinanced. The costs were a few thousand dollars at refinancing.
Interest Rate
I do not remember exactly what the interest rate was when we got our original loan. I think 6% from Wells Fargo. I did a refinance with our credit union years later and the interest rate now is 4%.
Loan Officer Service
Yes, very satisfied with the loan officer at the original mortgage and at the refinance. Although, at the refinance, I wish the loan officer would have suggested for me to take money from my savings to put down on the closing costs by telling how much money I would save in the long run.
Overall Rating
Pros
Wells Fargo was my original lender and I was very satisfied but now, in the news, I hear of all the bad policies they had. I do not know how they affected my loan if at all. my lender now is Grow Financial FCU, who I am very very happy with.
Cons
I just wish Grow would have told me how paying off the closing costs would have lowered my interest rate to less than 4% and would have saved me thousands of dollars instead of rolling those costs into the loan.
Date: June 18, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
We paid all the standard closing costs and fees associated with our mortgage; they were mostly rolled into the loan itself so we had little or no cash out of pocket at the time of closing. We were pleased with this.
Interest Rate
The interest rate we received was competitive at the time we took out the mortgage. it's been several years since then and rates have dropped, but not so much that I feel the need to refinance.
Loan Officer Service
Our loan officer was busy and didn't always respond immediately to our messages but always did get back to us eventually. We liked dealing with him.
Overall Rating
Pros
They are a large organization but have many branches so they feel local. I have had my accounts there for most of my life so am very comfortable with them. It was logical to go with this bank for our mortgage.
Cons
They are very large and as a function of that size sometimes difficult to reach the right people. They can feel a bit impersonal in this way.
Date: June 18, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
Our lender worked with us and incorporated the closing cost into the loan where some other lenders weren't willing to do that for us. We had a USDA loan so we didn't have to put anything down for a down payment.
Interest Rate
I believe that the interest rate was in line with other lenders at the time. This was 10 years ago and we were first time home buyers so we tried to find the best deal.
Loan Officer Service
I don't feel the loan officer was too helpful in terms of answering our questions or fully explaining what some terms meant. I had to look a lot of information up for myself to know what we were getting into since this is the biggest purchase we have made to date.
Overall Rating
Pros
I liked that I can go online and see immediately what is owed, find my tax documents, and various other information that I couldn't do with other banks. I don't like to call or talk to people in person much, so having this information readily online is a big help.
Cons
Every time we would have to go into the bank to pay on the loan or transfer money to our mortgage account, we would constantly get a teller trying to upsell us into new accounts and products. It was a bit annoying to have this happen and I dread going into Wells Fargo for this reason now. I just want to take care of my transaction and be done.i
Date: June 18, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
The closing fee was under $2000 I thought that for the list of variables that go into closing costs, that it was a good deal. I have heard of other people paying much more.
Interest Rate
I think that the interest rate of my mortgage was below the interest rates of other lenders. I felt that anything below 4% interest was a good deal.
Loan Officer Service
My loan officer was there with me in each step of the process. He was willing to meet me on my time and made the complicated paperwork associated with the process seem simple.
Overall Rating
Pros
I like that Wells Fargo is a large company and offers many features that a smaller lender would not be able to provide. for example, I have a mobile app that keeps track of my mortgage payments as opposed to paying my local bank each month.ii
Cons
Since the lender is so big, it is often hard to reach a certain person when I call. instead of building a local relationship I have to speak to a customer services rep. when I place a call to the lender.
Date: June 18, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I ended up having to foot a decent amount of the closing costs since I purchased a short sale property. I could not negotiate with the bank enough to have them cover the closing costs. In fact, a significant amount of the upfront costs were closing costs.
Interest Rate
I think the interest rate was market rate but actually went down significantly enough that 2 years later I refinanced with the better rate.
Loan Officer Service
Our loan officer was awesome since she was dealing with a short sale. We had some close calls about whether we would actually have the closing or not because the bank hadn't signed off on certain documents to help forgive the past loans. She was a rock star.
Overall Rating
Pros
Everything worked out in the end, so I really thought they did a good job. It was not an easy sell, considering all the parties involved. They did a great job getting everyone on the same page.
Cons
Their online tool for uploading the specific documents was cumbersome. That actually made dealing with the bank more of a pain than it needed to be.
Date: June 18, 2018 Age: 50 to 59 Gender: Female Marital Status: Unmarried
Closing Fee
They were pretty close to others that I looked at and they were not out of line. I watch them very closely.
Interest Rate
It was very close to all of the other lenders that I looked because I do have a 780 credit score. I did expect a good rate.
Loan Officer Service
He was beyond helpful and I felt that he was both knowledgeable and trustworthy. That is why I chose him.
Overall Rating
Pros
He was very trustworthy and got back to me right away with needed documents and answered all questions very quickly.
Cons
I have heard so many bad things about Wells Fargo, I was a bit concerned about using them or that something may be hidden in the loan. The loan officer overcame those concerns.
Date: June 17, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
I think they are similar. Wells Fargo was upfront about the costs and the closing costs did not change - the only surprise was that the house assessed lower than the cost so we had to pay that difference up front.
Interest Rate
I think the interest rates are all pretty similar - we just got lucky locking in the rate when they were historically low while the house was being built. We did have the option of a one-time re-lock if rates dropped but they did not.
Loan Officer Service
I haven't needed anything from the loan officer really...it was a very easy process and I could walk to the closing offices from our old place. It was quick and efficient which is important to me.
Overall Rating
Pros
I like being able to manage my account online and seeing the principle I pay each month go up while the interest paid goes down. They always provide a payoff balance which is nice when getting a tax assessment for comparison.
Cons
Sometimes it's a little bit of a hassle to log on but that's fairly minor. Things seem to work well and we've never had a problem, to be honest. They have never sold the debt which is nice.
Date: June 17, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
I have always felt fees and closing costs were higher than necessary for all lenders. The lender I used was no different, once I got the explanation for everything there are always fees on there I ask them to explain further (but none surprise me).
Interest Rate
The interest rate was similar to what others were offering. Interest rates were rather low at the time, so all interest rates looked good. I was pleased the rates were not higher.
Loan Officer Service
Very responsive loan officer. Made sure we had all documents in on time for the underwriter (even having me rush some documents to her office at 7 pm at night so we could beat the last minute deadline for additional documents they required).
Overall Rating
Pros
I was happy with how accessible they were, how well they explained every step of the process. It was easy to get documents to them and easy to have any questions answered. They also processed the loan on time so I could close escrow in a timely manner.
Cons
The number of documents that were required and how often I needed to "immediately" get documents to them. It seems like they have done this enough times there shouldn't be any last minute surprises, even if those surprises are coming from the underwriters and not the person themselves.
Date: June 16, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Interest Rate
I got an FHA disaster loan and also bought at the very bottom of the market, there was no significant difference in interest rates between national lenders. I had shopped around and the rates were identical. Because I had a disaster loan from the FHA and it is a rare product I had to choose a bank that could handle the loan.
Loan Officer Service
Because I had a disaster loan (due to a tornado that destroyed my rental home) I had a difficult loan process, the woman who managed my loan did an exemplary job on doing research and went above and beyond to get my escrow to close by midnight on new year's eve. The process was pretty difficult but she really helped me by escalating situations to higher ups when needed.
Overall Rating
Pros
I have been a customer with Wells Fargo for thirty years so I was very happy that they were able to handle my weird mortgage, it makes it very easy to pay, transfer money, and open lines of home equity if need be. The only issue I had, and it seemed to be commonplace across the entire real estate world was getting people to understand that the FHA disaster loan that I had was a zero down loan and that it did indeed exist.
Cons
Well, I've never had any problems with them but I have heard a lot of negative press about their unscrupulous business tactics which really puts me off admiring them, I don't trust any of these banks, they're all crooked and dirty. But other than that they disclose everything in a timely manner and are extremely easy to work with overall.
Date: June 16, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I honestly didn't research the fees associated with closing
They seemed ok I guess, or we would have looked around.
Interest Rate
At the time the interest rate was good. Since then, it seems high. I need to apply for a refi to get the mortgage down.
Loan Officer Service
She really helped the process go smoothly. There were little to no issues during the process. It was really easy.
Overall Rating
Pros
They really seemed to help out. Also, now that I am looking to refinance, they are being very helpful as well.
Cons
The only thing that I can complain about, is the interest rates themselves. They seem high. Especially when I can refi and the payment drops substantially.
Date: June 16, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Fee's and closing costs were expected and did not throw us off guard at all during the house buying process.
Interest Rate
The interest rate was really good for us and has allowed us to pay down our mortgage a bit quicker than we had expected.
Loan Officer Service
The lender switched us between two different loan officers so there was some missed communication between us and them. This slowed down our house buying process, unfortunately.
Overall Rating
Pros
The tools, interest rate and straightforward nature of the lending process were good. Overall a positive experience.
Cons
The load officers were lacking a bit in communication with us. Took a while to get answers and there was some lost paperwork on their end during our house buying.
Date: June 14, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
My closing costs were what I expected and average with other lenders.
Interest Rate
My interest rate was slightly more than the average rate at the time of my mortgage.
Loan Officer Service
My loan office was quick and responsive to all my questions. He took the time to explain the entire process from start to finish.
Overall Rating
Pros
The lender took the time to find me the best program for my needs and to explain the process from start to finish.
Cons
I think my interest rate could have been a little better and I did not like the amount of PMI that I am required to pay each month.
Date: June 13, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I don't have anything to compare it to. The sellers paid the closing costs so we didn't pay much.
Interest Rate
I think our interest rate is good compared to others. It's just under four percent, which is really good overall. My husband and I have really good credit so even if it was with another lender, we would still have a good rate.
Loan Officer Service
He was the father of a family friend so we have known him for years. He was very helpful and walked us through the process as first-time homebuyers.
Overall Rating
Pros
They were easy to deal with and everything we need we can do online or can do with a phone call. No need to visit in person.
Cons
There is no physical branch within a 100-mile radius of my city. So if we had to do something in person it's a long drive to do so.
Date: June 12, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
I was very fortunate, I paid no closing costs. However, I believe Wells Fargo has lower lending costs compared to others, as I am no in the process of purchasing another home.
Interest Rate
I have a 4.5 % interest rate, which was very good compared to other lenders that were slightly higher.
Loan Officer Service
My Lender went above and beyond working with me and helping me get a judgment lien off my credit, the companies customer service excelled.
Overall Rating
Pros
They have great customer service skills, you never wait in line to get through, they always explain everything in detail.
Cons
There really wasn't anything I didn't like about this lender my experience was amazing.
Date: June 11, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I have no experience with closing costs or fees from other lenders, but I was able to walk in, sign and walk out with the keys with relative ease and have no reference to how much the typical closing fees are.
Interest Rate
Since I bought the house when the market crashed, I was able to get an incredibly low-interest rate that, to date 10 years in, no one has been able to match or beat,
Loan Officer Service
I have never spoken with my loan officer. I do not know their name or even if anyone is actually assigned to me. In the last 10 years, I do not think I have needed them for anything.
Overall Rating
Pros
I like the interest rate that I was offered for the home. That is the best thing about this lender. Additionally, I do like that it was easy to set up recurring payments online so that it is automatic and I do not have to worry about anything
Cons
I have heard about their illegal and unethical activities and it makes me wonder if I was ever scammed OR if they will do it again in the future. If I was offered a lower rate with any other lender and no closing costs, I would snatch it up to be away from a company that participated in MASS illegal activities (and still no one has served time...)
Date: June 11, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
The closing cost was approximately $3000 which was considerably lower than other competitors. It would have been even lower if not needing to pay .28% to hold our rate at what we locked in at.
Interest Rate
Got a 15-year mortgage at 3.25% with .28% points. This was a great rate compared to many other nationally known lenders. Many others were .25% or higher.
Loan Officer Service
His communication could have been better. Usually, it was me making efforts to see where we stood in the process. His poor communication resulted in a hold up on my loan which ended up costing me more money.
Overall Rating
Pros
I liked that everything could be submitted via their online portal or via fax. I also liked the closing in that the notary met with me on my schedule and on a mutually agreed setting.
Cons
At first, it was a bit wishy-washy as to the term I could get. I wanted a 15 and they said I'd qualify for a 20. They later changed it to the 15. This also created issues with PMI.
Date: June 11, 2018 Age: 40 to 49 Gender: Male Marital Status: Married
Closing Fee
The fees and closing costs of Wells Fargo were acceptable and even lower than quite a few of the other lenders in the market. There was no hidden or surprise cost at closing.
Interest Rate
The interest rate of my lender compared well with other lenders and was within 0.25 percentage range. Rates were important in choosing a lender as well as fees charged.
Loan Officer Service
The Wells Fargo loan officer took the time to explain the mortgage process and responded quickly to any inquiries we had. The lender took a personal interest in seeing that the mortgage was a seamless stress-free experience.
Overall Rating
Pros
I liked working with Wells Fargo as we already had other accounts with them and from prior experience were confident that taking a mortgage with Wells Fargo would be a good choice.
Cons
There was nothing that we disliked about Wells Fargo as a bank or lending institution. We have had only positive experiences with them.
Date: June 11, 2018 Age: 40 to 49 Gender: Female Marital Status: Married
Closing Fee
Since we already had an existing mortgage for another property with the same lender we received some discounts on the closing costs. I think the total we were charged was $1500 which seems low for a mortgage.
Interest Rate
The interest rate we got was similar to other lenders but the overall fees charged to us was less. We have a 4.125 percent interest rate which was slightly below what we were expecting. Most lenders at the time quoted 4.5%
Loan Officer Service
Our loan officer was very knowledgeable and was able to explain everything to us very clearly. She was organized and helped me keep track of what documents we needed and kept us up to date about where we were in the process.
Overall Rating
Pros
We have several loans with the same lender and have had good experiences each time. Several years ago when the economy was bad they gave us options to reduce our mortgage and helped us refinance an expensive 2nd mortgage with another lender to a more reasonable rate.
Cons
It is a large corporation and has had bad publicity in the news for fraudulent loans. However, our local branch is staffed with great people that are members of the community and well liked.
Date: June 11, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
typical doc fees, there were no points which were nice. I think about average with other banks, maybe smaller appraisal fee
Interest Rate
Used a mortgage broker who priced out several mortgages for me and we went with Wells Fargo because they seemed the best rate.
Loan Officer Service
He guaranteed the loan would close on time which it did. I have worked with him before and I trust him and his judgment
Overall Rating
Pros
I have now had the loan for a while and they have worked well with me on escrow issues and taxes, no problems.
Cons
The online system took me a while to get used to but once I did it was pretty easy. The first few registration steps always take forever
Date: June 10, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I think the fee and closing costs were pretty normal. They were similar to what I had experienced with a previous home purchase. I wish they had been lower, of course, as everyone does, but I was satisfied.
Interest Rate
They were lower than the other lenders we communicated with. I was satisfied with the final rate, although I wish it had been lower, of course. It was a decent rate.
Loan Officer Service
The loan officer was completely incompetent and I'm honestly surprised the loan went through. I wish we had used someone else. She called me at all hours of the day and night, including after 11 pm. Yet we had excellent credit and were easily able to obtain a loan. I would not use this loan officer again, nor would I recommend her.
Overall Rating
Pros
There wasn't much I liked about the lending institution. The assistant to the loan officer was friendly and polite and tried to help us. She basically took over the process, as the loan officer went out of town for a week right before our closing. I honestly can't say there was much to like.
Cons
They were open random hours, the officer was never there, her assistant did 90% of the work and I had to constantly update her on items I had already brought in. I was very disappointed with that particular lender.
Date: June 07, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Closing Fee
Our closing costs and fees were standard and comparable to other lenders. We paid the usual document fees and miscellaneous costs. Since they were all built into the mortgage it didn't feel bad.
Interest Rate
Our interest rate was competitive with other lenders at the time we got our mortgage. We shopped around and had our real estate agent looking for us as well, and determined that we were getting the best deal possible where we were.
Loan Officer Service
Our loan officer was very good at keeping us up to date on the process. Anytime I called to ask a question he got back to me within minutes. All the documentation was explained to us and everything was clear.
Overall Rating
Pros
Although Wells Fargo has been under fire for various bad tactics lately, we found our experience to be very clean, straightforward and easy. It met and exceeded our expectations.
Cons
There wasn't much to dislike. The cost was reasonable, the information was clear and the process itself made sense. The one thing I dislike the most is having to make our payment every month...
Date: June 06, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
There seemed to be some additional fees that cost us a few thousand more than what we expected. We would have liked to have seen the full total and the items broken down, not some unexpected extra charges.
Interest Rate
The interest rate was competitive with other bank's interest rate. What sold us is that this is the same place we normally bank and felt that by bundling things, it was easier to go into our line of credit if we needed it for a mortgage payment.
Loan Officer Service
The loan officer was very polite, but I do feel that they could have had some control inputting the details together so we knew the real price, not the subtotal.
Overall Rating
Pros
There are many Wells Fargo locations and the online services make it very easy for us to pull up our information and look at details. We appreciate that service.
Cons
It often feels like the lending agent was trying to sell us add-ons and you had to be alert, otherwise, it felt like we could have overspent.
Date: June 05, 2018 Age: 30 to 39 Gender: Female Marital Status: Married
Closing Fee
I actually did not pay closing costs. It was part of the buying agreement that the seller paid for the costs. SO I don't know how it compares
Interest Rate
The rate was the best I could find at the time, but that was 11 years ago. The housing market collapsed after that and rates have gone way down. I tried to refinance to get a better rate but banks said I didn't owe enough to qualify and that my house was not worth how much my loan was.
Loan Officer Service
They were friendly and helpful. I almost felt my loan was approved too quickly. I sometimes wish they hadn't approved it because then I wouldn't have lost so much money when the market collapsed.
Overall Rating
Pros
I thought I trusted them at the time but then the market collapsed and it made me not trust any bank ever again. I felt even worse after they refused to refinance.
Cons
Again, I don't trust any bank anymore. I thought that I had chosen a good company but they were part of the problem too. I am chained now to a house that I did not know was grossly over-inflated in price
Date: June 05, 2018 Age: 20 to 29 Gender: Male Marital Status: Married
Closing Fee
We actually had the seller pay for the closing costs instead of paying to fix some of the problems. I think it was like 3000 dollars, which is what we expected
Interest Rate
My interest rate is 4.125%, which at the time of purchase seemed to be the going rate for a good credit score. I'm not really sure what it's at now, but I'm happy with that rate
Loan Officer Service
He was a friend of a friend, so he treated me fairly. I believe he found me the best rate he could. he even got me a $100 gift card after closing!
Overall Rating
Pros
They seemed like honest good people that treated me fairly and didn't take advantage of a first time home buyer. I
Cons
They were a small bank and their website was kind of crappy. That's really the only thing I can think of.
Date: June 04, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
I think they were fair compared to others. The charges were explained up front and appeared to be reasonable. We did not have any concerns about the closing costs.
Interest Rate
It was better than the other rates we got when we shopped around and was better than many other interest rates we heard about. They also gave us the best rate because we had a relationship with them at the time.
Loan Officer Service
We had an average experience with the loan officer. The process went smoothly but it was not anything special. They did give us a gift after the loan closed.
Overall Rating
Pros
I liked the options that were provided to us. They were clear, helpful and transparent. They were helpful in leading us through the experience as it was the first time buying a house for us.
Cons
They are a large bank so we do not have a personal relationship with anybody. It is not always to get our questions answered by somebody that we know.
Date: February 13, 2018 Age: 50 to 59 Gender: Female Marital Status: Unmarried
Closing Fee
The lender we use is very large and their closing costs are very competitive in comparison to other lenders. They reduced the fees involved since we were refinancing.
Interest Rate
Our mortgage rate is about a point higher than what is currently on the market.The difference is small enough that I don't believe it is worth the trouble and expense of refinancing.
Loan Officer Service
The loan officer kept us up to date on all necessary paperwork and tasks to be completed. They were easy to reach when I had a question or needed something from them.
Overall Rating
Pros
I like that they're always available and easy to reach. I like their online services and frequently take advantage of them. I also like that they don't bug us a lot after the deal was closed.
Cons
I don't have a lot to complain about with our lender. I think that I would go with them again in the same set of circumstances.
Date: February 13, 2018 Age: 40 to 49 Gender: Female Marital Status: Unmarried
Closing Fee
The sellers paid all the closing cost. We didn't come out of pocket on anything. We didn't feel the need to shop around
Interest Rate
We had a Va loan so it seemed to be a standard rate at the time. It was the lowest rate available so we didn't shop around.
Loan Officer Service
It was a easy process for the most part. She was quick to respond to any questions that we had. She would even come pick up needed forms at my work.
Overall Rating
Pros
I like that the lender is quick to respond and helpful. I also like that we can automate the payments and can make principal payments online.
Cons
I don't like that they didn't go over the advantages of having a shorter term loan. I wish they would have informed us of all the available options.
Date: February 10, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I felt our closing costs were fair. In our agreement we had the seller pay closing costs so it was fine for us. But had we had to pay closing costs Wells Fargo offered fair closing costs.
Interest Rate
We received a fair interest rate for the time we got the mortgage based on our credit score. We did shop around and found Wells Fargo had the best rate. Therefore, we went with them for our mortgage.
Loan Officer Service
We were provided a great loan officer. We can call them for anything if we had questions and they were very knowledgeable about the process. This was a huge relief since we were first-time homeowners.
Overall Rating
Pros
We liked the lender because they were a big bank and they were in our neighborhood. My husband had also done business with them for several years prior to getting our mortgage so we felt extremely comfortable with them
Cons
They are a big bank and they are often hard to deal with. You are unable to talk to the same person each time you call in and ask questions and you are dependent upon the person you talk to, to notate the account.
Date: February 10, 2018 Age: 40 to 49 Gender: Male Marital Status: Unmarried
Closing Fee
Closing costs are driven mostly by NYS. 10% down was reasonable, credit check and small origination fee. The problem in NY was the county fee, recording fee, transfer fee, filing fee for the deed, etc. Everybody and their brother gets paid in NY when you take out a mortgage.
Interest Rate
Wells Fargo had a low down payment requirement. That was very attractive. However, the internet was not the business tool at that time that it is today. Lots of mailing, hurry up and wait, where scans and emails are the standard today.
Loan Officer Service
Called frequently enough and seemed informed. Not very interested in people at all. Had one minor addition at the end that would have derailed the entire deal.
Overall Rating
Pros
Lender offered many programs from VA to non-secured, explained benefits of all and asked for our decision, not a given in this day and age.
Cons
It was very challenging in so many ways to work with a lender who was located across the country. Would have gone with a local back if we had to do it over again, they did not understand the assessment.
Date: February 09, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
Seller paid all closing costs, so I was very happy with that whole situation
Interest Rate
It was at 5% originally, now it is down to 4.5%. I am really happy with it.
Loan Officer Service
They were helpful the entire time and it felt like they cared
Overall Rating
Pros
They are easy to work with and whenever I have a question I get a prompt answer
Cons
There is nothing that I dislike, everything has been great.
Date: February 09, 2018 Age: 20 to 29 Gender: Female Marital Status: Married
Closing Fee
It's a bit on the high side since the fee wasn't disclosed.
Loan Officer Service
He's not very responsive but overall gets everything done. A bit slow.
Overall Rating
Pros
The lender is good in providing documentation and getting things done
Cons
Rate was not very competitive and he's slow in managing the process
Date: February 09, 2018 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
The closing costs were about what I would expect from other banks so it was not that bad.
Interest Rate
I go a VA home loan so our interest rate was rather good at the time. I am quite satisfied with it.
Loan Officer Service
Loan officer went on vacation in the middle of us getting our house so that was a mess to work through when getting all of our works in a row in his absence.
Overall Rating
Pros
The lender was quick getting us approved, but after that everything was pretty bad.
Cons
We were not able to get in touch with our lender as easy as I would have liked and it became a very bad issue when signing our papers.
Date: February 09, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I really am not sure how they compare with others. Isn't this sort of a state thing where different things are required? For instance, I had to pay for an attorney and the escrow company and the title search, but in other states, the escrow company handles the attorney stuff.
Interest Rate
I'm FHA and I bought at the very bottom of the market, so I have a 3.5% rate. I am very happy with that. I also got a disaster loan so that's like a standard 3.5% down FHA loan but with 0% down instead.
Loan Officer Service
when my loan wasn't going to close because of something the underwriter couldn't manage to get done, the loan office went above and beyond to push the loan through at the last minute. I am very happy with her.
Overall Rating
Pros
I like the lender because they have easy to use online tools and the physical branch is right down the street from my house which makes it easy to do stuff when I need to
Cons
well, its Wells Fargo, at this point in history there isn't much to like about them. they're shady and have compromised a lot of people's credit because of their opening of unauthorized accounts.
Date: February 09, 2018 Age: 50 to 59 Gender: Female Marital Status: Married
Closing Fee
I feel like all of them throw in all these fees that seem like they are trying to nickel-and-dime you to death and it is always a last minute fee. It hard to figure out what you can afford when everyone is adding bull crap services and fees.
Interest Rate
It was the lowest rate we found and they did offer a.25% off the rate if we completed an online course about mortgages.
Loan Officer Service
We had trouble getting an auditor to inspect the house and held up the purchase of the home for a month. We had to move from Texas and rent out the house we were going to buy for two months because the officer wouldn't fire the auditor and get another one. My wife finally had go around the officer and get someone else in the company to get results. We lost a lot of money because of that.
Overall Rating
Pros
The company good at getting us a low rate.
Cons
They just seemed incompetent and lot of things seemed like they just did not know how to do their job after getting the rates we needed.
Date: February 09, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
The closing cost was higher than what I wanted to pay, but it was easily deducted from the amount we got from selling our other home, so it wasn't too noticeably difficult to afford.
Interest Rate
The rate was average in comparison to other lenders we looked into at the time. We were happy with the lender we chose.
Loan Officer Service
The lender we used provided us with excellent customer service and good advice which we needed. He got us the amount which we are in need.
Overall Rating
Pros
He was very personable, and he helped us figure out what our monthly payment would be so we wouldn't overspend.
Cons
I did not dislike anything about our lender. He worked hard for us and helped us understand what we needed to know.
Date: February 07, 2018 Age: Above 60 Gender: Male Marital Status: Married
Closing Fee
I am a grouch when it comes to closing costs, I feel there are so many "fees" that are just ways for banks/brokers to make money. I put a 3 down because no matter where you go, closing costs are always ridiculous and probably a huge source of income for most financial institutions.
Interest Rate
We got a 3.25% rate, which isn't bad, I would say Wells Fargo was pretty competitive. I had to pay down a couple of credit cards in order to get a better rate, which is where my unexpected cost (above) came from. We did do some rate shopping but Wells beat out BOA and Frost, so we went with them.
Loan Officer Service
She was absolutely outstanding. She went above and beyond, answered her personal phone during off hours if I had any questions, went to bat to get us a good rate, told me what I needed to do as far as paperwork, signatures etc. She was super all around, personable and so helpful.
Overall Rating
Pros
Completely transparent, Wells shows everything and I have no doubt, there were no hidden costs, I am confident I got a good, honest deal with this mortgage and it is so easy to pay my mortgage online (we already have checking/savings with Wells).
Cons
I only had one instance where I had a problem. I had to get something for the house notarized and the lady at the local branch WOULD NOT NOTARIZE IT! I was so shocked, she claimed she wasn't allowed to notarize this....I was shell-shocked...WHAT? I'm getting the mtg. with this bank!_x000D_
I got the manager and he corrected the situation but her refusal left a bad taste in my mouth. I think she was being racist. The manager really apologized to me, the notary claimed she had never seen the form before.
Date: February 07, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
I paid up front a little more in fees to get a lower rate over time, and am happy with the result. The fees weren't all that different and they do provide good information in the disclosures so it's not too difficult to compare.
Interest Rate
I think a lot of the interest rates are very similar over time; I just got lucky and happened to close four years ago when rates were very low. Sometimes lenders play games with the interest rate and closing costs and other fees which is a pain but in the end it worked out.
Loan Officer Service
I didn't have any big problems and it was my third house so I knew to expect a lot of last-minute questions but mostly ignored. This loan officer was a little better than previous ones but again it could have been my familiarity with the process and better financial standing.
Overall Rating
Pros
Working with a big lender made the process more standardized and I felt like I could get someone else to help me there if I really needed to.
Cons
The Lender was sort of impersonal and I felt like there wasn't much room to negotiate or customize anything about the terms of the mortgage.
Date: February 06, 2018 Age: Above 60 Gender: Female Marital Status: Married
Closing Fee
Closing costs were a little higher than I was hoping, but not higher than I was expecting. My lender was upfront about it all.
Interest Rate
I received an interest rate of 3.5%, so I was happy that my good credit allowed me to get a low percentage.
Loan Officer Service
She was helpful, open, honest and was quickly to respond and answer any questions I had during the process.
Overall Rating
Pros
My lender was great as she helped guide me through the process of getting the loan. She was very nice and responsive.
Cons
Date: February 02, 2018 Age: 50 to 59 Gender: Male Marital Status: Married
Interest Rate
I've had a number of mortgages over the years, currently I'm at 4%. I don't know that many people got loans lower than that, maybe I'm wrong. But we refinanced during the collapse to get that rate. It's definitely the best rate I've ever had.
Loan Officer Service
Since getting the mortgage, I haven't had any reason to contact Wells Fargo. The service we had by the loan officer in the beginning was good though.
Overall Rating
Pros
The interest rate has been great. I think we'll save thousands of dollars over the life of the loan. WF is big enough to have extra services if we need them.
Cons
I guess I was a bit put off by the WF scandals in recent months/years. I don't like the idea of a company/bank signing you up for unnecessary services. They should be severely punished for that.
Date: January 30, 2018 Age: 30 to 39 Gender: Female Marital Status: Unmarried
Closing Fee
At the time we purchased, we did not have to pay closing costs. So, we were very satisfied with the fee structure during closing.
Interest Rate
I am disappointed with our interest rate. We locked in a fixed 6% rate when we purchased our home before the mortgage crisis. We have tried in vain to take advantage of Harp and other interest rate reduction programs to no avail. We are always told that we do not qualify due to a "credit enhancement." But, when we ask what that is, no one can seem to tell us. We pay three times the mortgage payment that most of our friends pay. And, they live in homes that are valued over $200,000.00 more than our home. Talk about bad timing. Our home is just leveling out, and is now valued at about what we paid for it. We have lived in the home for ten years, and if we sold it today, we would just barely break even. We would have been better off to rent for the last ten years.
Loan Officer Service
I was not satisfied with our loan officer. We felt very rushed through the process. They seemed to be working on commission and only interested in landing another loan.
Overall Rating
Pros
We originally liked that the Lender was a well known and widely used lender with a relatively good reputation. They seemed like a reputable lender, and we did not foresee having any issues with them.
Cons
Date: January 29, 2018 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
It was basic costs. The seller took care of this expense so we didn't have to pay anything out of pocket. That helped make the fee seem more palatable.
Interest Rate
We purchased in 2013 when the rates were very low. My husband worked in the mortgage industry at the time, and the person we purchased the house from also worked in the business so we didn't have to deal with realtors. We knew the process, and so we actually went through our community bank that we worked at to get the loan, who then sold it to Wells Fargo. We looked around for rates and found the one we got was a little bit lower than the average.
Loan Officer Service
Our loan officer was actually my husband's boss, and we were very satisfied with the time it took to complete the process.
Overall Rating
Pros
The initial lender was a community bank and we knew the employees personally because we also worked there. We knew that our mortgage would be sold to Wells Fargo, and we were satisfied with the communication we received when this occurred. The process was explained and we had no issues.
Cons
I don't really have any dislikes about the Lender. They were there for us when we had questions, and were prompt in completing the process for us.
Date: January 27, 2018 Age: 30 to 39 Gender: Male Marital Status: Married
Closing Fee
Seemed relatively fair at the time, now that I have gone through the process on another occasion my first mortgage costs were a bit higher than a competitor may have been able to give us.
Interest Rate
My interest rate at the time was fair, but we did an 80/20 loan at the time and I felt the pressure to refinance on the home equity to keep the rate from increasing too dramatically. That rate was a bit high even after the reify compared to other lenders.
Loan Officer Service
They were constantly having issues getting us approved with the correct mortgage initially. Telling us we qualified for one particular loan and then calling back the next day to say, "oops we were wrong". This did this to use more than once and it definitely made the home buying process more stressful than necessary.
Overall Rating
Pros
I did like that, in the end, they were able to work with us and our limited budget at the time. They are also available in several markets and when buying a home in another state it was an easier transition the 2nd time around. I find their online services easy to use and they allow me to make bi-weekly payments which is a nice benefit.
Cons
I would prefer slightly lower rates and think they could be more competitive in the market. And my other complaint was just primarily having to do with the qualifying and then disqualifying us on various programs initially.
Date: January 22, 2018 Age: 30 to 39 Gender: Male Marital Status: Unmarried
Closing Fee
Our closing costs were fair. We made a deal that the sellers paid the closing costs and all parties were satisfied.
Interest Rate
We were able to work with our lender to get the lowest rate possible that was available on the market at the time of getting our mortgage.
Loan Officer Service
Our Loan Officer was wonderful. She worked hard for us to make sure we got the best rates and deal that was available. She still continues to have contact with us, even after we have had our loan for a couple of years.
Overall Rating
Pros
Our lender continues to communicate with us for any changes that could help us save money each month. If there is a better rate or service available to us, they contact us and we don't have to contact them. They check yearly to help us with our mortgage.
Cons
Sometimes it is hard to get in touch with the company on the phone system. There are many menus to get through and sometimes long hold times. If waiting for a callback, it can take a long time as well.