Brian, Home Buyer in 94115

Wells Fargo loans for first-time buyers in this market...?

Asked by Brian, 94115 Fri Aug 14, 2009

As a first time home-buyer, is it possible to secure a loan from the big boy mortgage lenders e.g Wells Fargo, BofA. I've been blown off by a couple "mortgage consultants" at Wells Fargo. Although, I don't plan on buying for another 6 months (so I can have enough to put comfortably put down 20%), their customer service has been plain AWFUL! If I'm lucky, they'll actually respond to my phone calls or emails in two weeks time (one call was purely verbal abuse because they saw that BofA pulled my credit report too). One of them did put together a good faith cost estimate for a conventional and FHA loan, but just sent me a piece of paper with ZERO explanation of any of the numbers.

Do they just not want to loan out money right now? I've been nothing but courteous, and have a credit score over 800.

Help the community by answering this question:


The truth is that banks are having to work less and less for consumers these days. Your description of treatment is echoed across the nation. Realize that Wells and BofA have the same programs that everyone else has got - whether another bank or a mortgage broker. Find someone that will talk to you and educate you on different loan products that are available. If someone is pushing you towards FHA when you have 20% down payment, that should be warning enough to get up and leave their office immediately.
0 votes Thank Flag Link Sat Aug 15, 2009

Send me an email and I will send you contacts for Wells Fargo, Bank of America, Chase, and Prospect Mortgage. I will be providing you with Loan officers that pre-qual for REO's and they will take care of you. Just choose one for now.


0 votes Thank Flag Link Sat Aug 15, 2009
Brian, I am so sorry to hear about your recent responses from the "big boy mortgage lenders". I work for Wells Fargo and lend all over the country so I would be happy to provide you with some estimates and explanations. I believe that you will the make the best decisions when you have the all of the information that you need. Feel free to contact me. (888) 458-5888 extn. 1002.
0 votes Thank Flag Link Fri Aug 14, 2009
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