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Home Equity Loan

A Wells Fargo Home Equity Loan may be a good choice for homeowners who are looking for:
  • Funds for a one-time expense with the security of a fixed interest rate
  • Predictable monthly payments
  • A definite payoff date
We provide the information you need to:
Make an informed decision • Find a low interest rate • Get your funds quickly


With a home equity loan you can:
  • Receive your funds in a lump sum — you get the full loan amount at once.
  • Enjoy a fixed interest rate for the life of the loan.
  • Make fixed monthly payments of principal and interest.
  • Have access to a predictable payoff schedule.
  • Choose from a variety of available loan terms.
  • Consolidate debt or pay for major one-time expenses.
  • Pay down additional principal balance at any time without penalty.
Gears iconPayments on a home equity account may be lower than you think.


  • Potential tax benefits: Unlike personal loans or credit cards, the interest on your home equity loan may be tax deductible.1
  • Payment stability: The fixed interest rate provides a predictable monthly payment that does not change throughout the life of the loan.
  • Flexibility: Select the home equity closing cost option that meets your needs.
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Wells Fargo customer relationship discount

You may be eligible for a relationship discount of 0.375% with a qualified Wells Fargo deposit account and automatic payments.2


  • A home equity loan means an additional monthly payment and additional debt secured by your home.
  • With a home equity loan, you have a one-time access to available equity and a single monthly payment option.
For your home equity needs:


Principal and Interest (P&I)

These are two of the main components of your monthly payment on a mortgage or home equity loan. The principal portion of your payment reduces your loan amount. The interest portion is your cost for the use of the principal for that month. If your mortgage loan payments also include property taxes and homeowner's insurance (and mortgage insurance, if applicable), the monthly payment amount is referred to as PITI.

Closing cost options

Most home equity financing offers two options:
Have us pay your closing costs
  • You pay a higher interest rate to cover all required third party costs
  • This option is not available for financing greater than $500,000
Pay your closing costs
  • You pay a lower interest rate
  • Pay with your loan proceeds, line of credit, or a check

    For details, please call 1-888-421-4672.
1 Consult your tax advisor regarding deductibility of interest.
New Wells Fargo home equity accounts are subject to credit qualification, income verification, and collateral evaluation. Additional restrictions, limitations and exclusions may apply, please contact a Wells Fargo banker for further details. For home equity, The Wells Fargo PMA® Package discount is 0.375%. Only one qualifying discount per new Wells Fargo home equity line of credit will apply. To qualify for the discount, customers must maintain a PMA Package checking account and continued automatic payments from a Wells Fargo checking or savings account. If the qualifying checking account is closed, or if the automatic payment is not selected or is cancelled at any time after the credit account is opened, the interest rate and corresponding monthly payment may increase. Additional restrictions, limitations and exclusions may apply; please contact a Wells Fargo banker for further details.
Equal Housing Lender