Navegó a una página que no está disponible en español en este momento. Seleccione el enlace si desea ver otro contenido en español.

Página principal

Lower Your Monthly Payments

Lower your monthly payments video

Manage your debts more effectively to lower your monthly payments, giving you a little extra cash in your wallet.

Watch Video

There are many reasons why you might need some extra room in your budget. That’s why getting a lower interest rate or extending the term of your loan may help lower your monthly payments, freeing up cash for when you need it most.

 Customer Discount 

As a valued Wells Fargo customer, you may qualify for an interest rate discount on an eligible Wells Fargo loan.  Contact a banker to see how you can qualify.

Strategies to reduce monthly payments

  • Lower your rate. You may be able to lower the rate of your current loans (such as auto, home, personal, or student) or your credit cards, especially if your credit score has improved or if overall interest rates have gone down since you initially applied for the loan. Make sure to consider any fees that might be associated with refinancing.
    Consider refinancing
  • Consolidate your debt. You may be able to lower your monthly payments if you consolidate multiple loans or credit cards into one new loan with a lower rate or longer term. And because there are different ways to consolidate for different needs, Wells Fargo will work with you to find the right option.
    Consider debt consolidation
  • Extend the length of your loan. Another way to potentially pay less each month is to qualify for refinancing that extends your loan repayment period or term length. Just be aware that your repayment period will increase, which can increase the overall amount that you repay and your total cost of borrowing.

Next Step:
Understand the total cost of borrowing

When considering a new loan or restructuring your current debts, remember to consider your borrowing costs.  Extending the term of your loan may lower your monthly outgo, but you may pay more in interest over the life of the loan, increasing your total payments.

Learn more

Products to consider