Whether it’s a real estate investment or a property for yourself, most people choose to look for a mortgage plan to finance the purchase. If you’re going to get into debt, getting into some debt in real estate is a much better idea than getting into debt for something that’s never going to appreciate in value.
When it comes to owning a house then a mortgage is the best idea, whether you earn hundreds or millions. That’s why you have financial institutions like Well Fargo offering a number of mortgages that come with different rates.
You can learn more on the Wells Fargo mortgage rates and how they differ by reading on. The loan terms of the different mortgages offered by this bank can also be found up next as well as information on how to apply for a mortgage online.
Different Rates of Wells Fargo Mortgages
With your average one-time loan, there are any differences as to what the bank offers. But with mortgages, the situation is quite different and you have some standard rates that are determined by different factors of the mortgage.
For Wells Fargo the rates vary as much as any other bank and they are about the years it takes to finance the loan. Here’s a breakdown of the Adjustable Rate Mortgage (ARM) and Fixed- Rate Mortgage (FRM) offerings of Wells Fargo.
The loan limit that you get when you take this mortgage is set at $200,000 and you have up to 30 years to repay it. You, however, have to make a 25% down payment for the loan.
Interest is 2.65% and the APR is 2.89%
The second type of mortgage has a $200,000 limit and you have to make a 25% down payment for this mortgage. The loan term here is set to up to 30 years.
APR is set at 2.88% and the interest of the mortgage is charged at 2.62%.
For this type of mortgage from Wells Fargo, you also have to part with 25% in down payment. The limit is set at $200,000 and you have up to 15 years to pay the loan.
Interest charged on the mortgage is set at 2.50% and the APR is set at 2.70%.
Another mortgage type that you get is the 20-Year fixed and you have a loan term of up to 20 years for this loan. You have to lay down a 25% down payment for the loan.
Interest rate is set at 2.87% while the APR for this mortgage is set at 2.99%.
30-Year FRM VA
For a loan amount of $200,000 you have to part with $816 monthly principal and interest. There’s no down payment involved when you take out this mortgage. The loan term for this loan is up to 30 years.
Interest charged on this loan is set at 2.75% and the APR set is at 3.00%.
The last type of mortgage that is available with Wells Fargo is this one. It too, has a 30-year repayment period that you need to start off with a 25% down payment.
The monthly principal for this loan is set at $857. Interest associated with this mortgage is set at 3.12%, while the APR for this mortgage is set at 3.22%.
How To Apply For Wells Fargo Mortgage
To apply for any loan, you need to meet the set requirements by the bank. You can learn more and even begin your application process online by using this link.
Bank’s Contact Info and Address
You can easily get in touch with Wells Fargo about mortgages and the rate at which the mortgages are being offered through 1-877-937-9357.
The banks’ head office is located at 420 Montgomery Street, San Francisco, California.
With Wells Fargo, you’re sure to find the right type of mortgage for your needs. As you read above, there are many options available to you. When you are mortgage shopping, consider all angles before you finally commit.
Note: There are risks involved when applying for and using a loan. Consult the bank’s terms and conditions page for more information.