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FHA Wells Fargo
|FHA Wells Fargo refers to the loans originated by Wells Fargo Home Mortgage and insured by the Federal Housing Administration. These options are well suited to people with low-to-moderate income and limited savings.
There are low down payment requirements and one can also use a gift or grant to fund down payment and closing costs. Flexible underwriting guidelines and credit score requirements are helping people qualify easily for either a fixed-rate or an adjustable-rate loan option from Wells Fargo Home Mortgage.
Moreover, there are solutions as well for existing borrowers in the forms FHA streamline refinance, short refinance, loan modification and similar other programs and several foreclosure alternatives.
Wells Fargo FHA Rates
Wells Fargo FHA rates for purchasing a home can be calculated using a tool known as Calculate Rates and Payments. This tool is available online at the WFHM website. The interest rates under a refinancing program necessitate the payment of a loan origination charge, which is usually one percent of the loan amount.
Here is a sample of Wells Fargo FHA rates for a refinancing situation.
|30-Year Fixed (Conforming)
|5-Year ARM (Conforming)
|30-Year Fixed (Larger Amounts)
Wells Fargo FHA Streamline Refinance
Wells Fargo FHA streamline refinance takes less processing time than a regular FHA refinancing option. This is because there are reduced documentation requirements and there is no appraisal at all in some cases. The applicants must be already having an FHA-insured mortgage from WFHM.
Using a streamline option, one can easily reduce monthly payments by refinancing to a lower interest rate. However, the loan limits vary from place to place depending on the average housing costs of the area. Talk to a WFHM consultant to know how much you can obtain in your location through a Wells Fargo FHA streamline refinance option.
Wells Fargo offers an array of home loan and refinancing options for first time home buyers as well as for existing homeowners. There is a FHA 203k Rehab program for purchasing a home that needs repairs. There are loan modification, short refinance and short sale options for those who are facing foreclosure on a FHA loan.
The mortgage rates are competitive and there are loan options to suit your every need. The online resources made available by the bank will help you explore further about aspects like FHA case number transfer, credit score and underwriting guidelines. For more information, contact a Wells Fargo mortgage consultant at 877-937-9357.