Wells Fargo Mortgage Rates Review
Wells Fargo bank is a leading bank that aims to satisfy all its customer’s needs and helps them to be financially better. This is the reason they have a wide variety of products to suit the needs of different kinds of customers. In this blog, we review the Wells Fargo interest rates of different products to help investors get a better idea of their products. In this article, we will look at Wells Fargo mortgage rates and features.
The most popular kind of mortgage offered by Wells Fargo is the Conforming mortgage. These are conventional home mortgages that are eligible for sale and delivery to either FNMA (Federal National Mortgage association)or FHLMC( Federal Home Loan Mortgage Corporation) ) and are backed by the Federal Housing Administration (FHA).
Wells fargo mortgage rates for a 30 year fixed mortgage is 4.812% APR. Wells fargo interest rates for 30 years fixed FHA loans are 5.364% APR. Interest rate for a 15 year fixed mortgage is 4.195% APR while the interest for a 15 year ARM is 3.594% APR. ARM is the adjustable rates mortgage in which the interest rate is flexible and depends on the current prevailing rates in the market. A 5 year ARM FHA carries an interest rate of 3.074% APR.
Wells fargo bank home loans for larger loan amounts in eligible areas, both conforming and FHA, is slightly more. The rates for a 30 year fixed loan is 4.886% APR, for a 30 year fixed FHA is 5.442% and interest for a 5 year ARM is 3.634%.
Another kind of loans is called the jumbo loans and in these loans, there is no limit on the loan amount and the interest rates are also quite high. Interest for a 30 years Fixed is 5.643%. The wells fargo mortgage rates for 5 year ARM jumbo loan is 3.954%.
