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Pay Off Your Mortgage Sooner

We focus on your mortgage and home equity needs with the goal of delivering a straightforward and convenient application experience. Let us show you how easy it is to apply for mortgage or home equity financing with Wells Fargo.

The mortgage application process

What are the steps to apply for a mortgage?Show Details

  1. Gather essential financial information.
    • When buying a home, you’ll need to provide us with the purchase price and down payment amount.
    • When refinancing a home, you’ll need to tell us the estimated property value and amount you want to borrow.
    • Our homebuying checklist and refinance checklist provide complete lists of the documentation you’ll need.

  2. Begin your application in one of the following convenient ways:
  3. Provide supporting documents. Your dedicated home mortgage consultant will send you information about estimated closing costs and a Truth-In-Lending Disclosure. Your consultant will also provide you a list of specific documents required to process your loan application. Please review, sign, and return these documents along with any required fees as soon as possible to avoid processing delays.
Your home mortgage consultant will go over the steps involved in processing your application and closing your loan.

Do I need to pay a fee to submit a mortgage application?Show Details

Yes, there is a fee to apply for a mortgage. Fees cover the cost of the credit check, verification of your financial information, and property appraisal. Fees vary by loan type and the location of the property. Your home mortgage consultant will give you details about these fees during the application process.

What’s the difference between a prequalification and a preapproval?Show Details

  • A free mortgage prequalification is a rough estimate of how much you may be able to borrow to buy a new home. It’s a "ballpark" estimate of the maximum loan amount you may want to consider.
  • A PriorityBuyer® preapproval letter is a conditional credit approval following a complete mortgage application. You may be eligible to receive a PriorityBuyer preapproval letter after we review the loan application and you meet qualification requirements. This letter lets you know how much you may be able to borrow and shows real estate agents and sellers that you're a serious buyer.1
Neither a preapproval nor a prequalification obligates you to borrow from Wells Fargo. Still have questions? We’re ready to help. Please speak with one of our mortgage consultants.

Is there an advantage to locking in my pricing?Show Details

If you want to avoid the possibility that interest rates will rise before you close on your home loan, you can lock in your loan pricing after your mortgage application is completed.
Locking in your loan pricing guarantees that you’ll get the price you agreed upon. For more information, please refer to the Loan Pricing Disclosure.

Is the process different for some types of mortgage loans?Show Details

Submitting an application for renovation mortgages and new construction mortgage loans involves some additional steps.
Renovation mortgages
  • If you are purchasing and renovating or refinancing and renovating, you will need to estimate the value of the property after improvement. The property appraisal obtained during the processing of your loan must support this estimate.
Visit our Home Improvement Lending Center for more information.

New construction mortgages
  • When you are purchasing a home from a builder, the new construction mortgage process is very similar to the process for buying an existing home. You can choose a pricing lock over an extended period. This gives you protection from financial market fluctuations over the time your new home is being built.
Visit our Construction Lending Center for more information.

The home equity application process

What are the steps to apply for a home equity loan or line of credit?Show Details

To apply for home equity financing, you must own a primary residence, investment property, or vacation home2
It's easy, fast, and secure to apply:
  1. Gather essential financial information. To get started you will need a conservative estimate of your home’s value, the desired loan or credit line amount, and your income and debt payments.

  2. Submit an application. Unsure of which home equity option may be right for you? If you do not select line of credit or loan, one of our home equity specialists will contact you after you apply to help you understand your options.

    Choose a convenient way to apply:
    • Apply online. Once you submit your online application, we will contact you within two business days with the status of your application.
    • Call 1-888-667-1918 to speak with a home equity specialist.
    • Find a Wells Fargo location near you.

  3. Provide supporting documents. Verification of income, as well as other documentation, will be required.
Get an application overview containing useful tips, qualification criteria, and required documentation for your home equity application.

Do I need to pay a fee to submit my home equity application?Show Details

No. You may benefit from competitive rates, potential tax advantages and special interest rate discounts for Wells Fargo customers. Consult your tax advisor regarding potential tax advantages and deductibility of interest.

What should I consider when applying for a home equity loan or line of credit?Show Details

  1. If requesting a loan, make sure your requested amount is between $10,000 ($20,000 in California) and $500,000. If you prefer a line of credit, make sure your requested line amount is between $20,000 and $500,000.
  2. Carefully evaluate how much you need. Your requested amount plus the existing mortgage balance and any other outstanding liens against your property should be less than 80% of your home’s current value.
  3. Provide a conservative estimate of the value of your home.
  4. Follow the status of your application by signing up for Your Application Status.
  5. Ask about special interest rate discounts for Wells Fargo customers.
For your mortgage needs:
For your home equity needs:


A Truth-In-Lending Disclosure

A Truth-In-Lending Disclosure provides the terms of the loan, annual percentage rate (APR), and other financed loan costs.
If you are a servicemember on active duty, prior to seeking a refinance of your existing mortgage loan, please consult with your legal advisor regarding the loss of any benefits you are entitled to under the Servicemembers Civil Relief Act or applicable state law.
A PriorityBuyer® preapproval is based on our preliminary review of credit information only and is not a commitment to lend. We will be able to offer a loan commitment upon verification of application information, satisfying all underwriting requirements and conditions, and providing an acceptable property, appraisal, and title report. Preapprovals are subject to change or cancellation if a requested loan no longer meets applicable regulatory requirements. Preapprovals are not available on all products. See a home mortgage consultant for details.
2 If you don't own the qualifying collateral please consider a personal loan.
Equal Housing Lender