saltydoc says "Reasonable rates and customer service - but watch for the gotcha" about Wells Fargo Home Mortgage

saltydoc — Mon, 18 May 2009 19:22:49 GMT

We recently obtained a home mortgage through Wells Fargo. I compared four different companies - Wells Fargo had the best interest rate without paying points, and average morgtage fees. Yes, the number of different fees was outrageous - but that's an aspect of the entire industry, not just Wells Fargo. The mortgage representative was friendly and helpful - I worked with the same person throughout the entire process. Underwriting went smoothly, and when calling customer service I got a real person in less than a minute (despite calling at peak times). Overall I'm pleased.

However, we almost were hit with a gotcha regarding the payment schedule. I originally opted for the bi-monthly payment. The idea was that some of the principle amount would be lowered two weeks earlier than with a monthly payment - thus saving us a little interest over the long haul. I believe most folks familiar with basic finance would expect the same. However, they don't actually apply the first...

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Reviews by saltydoc

saltydoc says "Reasonable rates and customer service - but watch for the gotcha" about Wells Fargo Home Mortgage