Home Buying in Wilson>Question Details

hopefulbuyer, Home Buyer in Wilson, NC

What credit score is needed for a Wells Fargo loan?

Asked by hopefulbuyer, Wilson, NC Mon Feb 18, 2013

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6
Generally a minimum score of 640the is required. You would have an easier time if you avoided Wells Fargo or any of the biggerbanks who are all imposing additional requirements not required by the Government.
1 vote Thank Flag Link Mon Feb 18, 2013
I have a loan thru wells fargo and may have a lean on the loan..I would like to no if I can refinance
the loan?
0 votes Thank Flag Link Thu Jan 8, 2015
Credit scores are only one threshold; they are numbers so a lot easier to understand than other guidelines therefore they get more attention from everyone, especially borrowers. They are NOT the golden key to the mortgage vault. You could have an 800 credit score and not be eligible for a mortgage offered by Wells or any other lender. Have your Realtor introduce you to the loan officer they trust the most, gather up your support documents and schedule a meeting to review everything. WHAT??? A face to face meeting? I don’t know, how important is it to you?

Good luck,

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Mon Feb 18, 2013
Purchase or refinance? Different programs have different requirements. I would be happy to introduce you to the programs Wells Fargo provides. We are committed to developing a meaningful, long-term relationship with our customers that demonstrate our appreciation for your business and our commitment to your financial success.
0 votes Thank Flag Link Mon Feb 18, 2013
If you are interested in Wells Fargo it might be best to contact them directly for assistance.

Guaranteed Rate, Inc. is a mortgage bank and a Correspondent Lender that delivers loans directly to its Investors based upon that sepcific Lender/Investor guidelines. When I originate a loan that will be sold to Wells Fargo, the minimum credit score for the Buyer must be 640.

It's possible that Wells Fargo Retail may allow different guidelines, but i hope this helps you!
0 votes Thank Flag Link Mon Feb 18, 2013
Generally a minimum score of 640the is required. You would have an easier time if you avoided Wells Fargo or any of the biggerbanks who are all imposing additional requirements not required by the Government.
0 votes Thank Flag Link Mon Feb 18, 2013
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