Plus compared to a prequalification it will give you a more accurate idea of your potential loan amount monthly payment and interest rate.
Wells fargo home loan requirements.
Our home mortgage consultants can help you get started with a free consultation.
Official page for wells fargo home mortgage loans.
A preapproval from wells fargo shows sellers you re a serious and prepared buyer.
For a wells fargo mortgage you ll need a minimum credit score of 600 with a down payment of 3 or more to qualify for a conventional loan under the yourfirst mortgage program.
Currently the minimum heloc limit at wells fargo is 10 000 for a fixed rate and 25 000 minimum with a variable rate.
The minimum draw or amount that can be taken out at one time is 400 in most states.
There is no maximum but it will obviously be determined by your credit score and equity in your home.
Your variable rate won t increase more than 2 per year based on your anniversary date and will never be more than 7 higher than where you started maximum of 18.