The Wells Fargo temporary reduction feature lets you ease into your new monthly mortgage payments.
- Lower initial monthly mortgage payments for up to the first three years of loan term, depending upon the loan program.
- Numerous temporary payment reduction options available with many different fixed- and adjustable-rate mortgage programs.
- Payments can adjust every 6 or 12 months until your payment reduction funds are exhausted, depending upon the loan program.
- Maximum annual adjustments vary depending upon the option chosen.
- The lower initial monthly mortgage payment allows you to redirect cash flow during the temporary payment reduction period toward other priorities or to reduce bills or debt.
- Predictable payments provide peace of mind, allowing you to manage your cash flow.
- Choice of a variety of payment reduction options so you can find one that meets your needs.
- Make sure that you are prepared and able to handle the payment increases.
- The payment reduction funds are paid at loan closing and cover a portion of your monthly payments.
- The funds may be paid by you, the seller, or the lender.
- Temporary payment reductions are not allowed on all loan programs.