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Wells Fargo Bank Home Mortgage Online Account Management
Wells Fargo & Company is based out in America. It is mainly a multinational banking & financial services holding company that is nestled in San Francisco, California. It is known as the fourth-largest bank of United States in the context of the assets. It is also known as the largest bank in context of market capitalization. Well, its achievements don’t end here. If we talk about the deposits, home mortgage servicing & debit cards services, it is placed at the second position amongst the banking companies.
Existing Well Fargo Company is the result of a merger that occurred between Wells Fargo & Co. & Norwest Corporation of Minneapolis in 1998. Well Fargo has been able to include itself in the names of most-valued & trusted banking brands of the World.
Making online payment of Wells Fargo Mortgage Through Www.WellsFargo.com/Mortgage/Account Page
- First of all, logon to www.yourwellsfargomortgage.com.
- Click on ‘Loan & Credit’ that is located at the top of the page.
- Now click on ‘Mortgage Loans’.
- Click on ‘Your Account’
- Now click on ‘Manage your account online’
- Either ‘Sign On’ or ‘Sign up now’ (if you do not have an account go to ‘Sign up Now’).
Other Options ForWellsFargo.com/Mortgage/Account
Besides login onto the official website, you may also opt for www.WellsFargo.com/Mortgage/Account. This is a link that appears less cluttered. www.WellsFargo.com/Mortgage/Account webpage will allow you to access the Wells Fargo Site Map. Through the help of Site Map, you may immediately access relevant link related to making online payment. www.WellsFargo.com/Mortgage/Account is a secure link & hence you need not bother about any kind of security-related concerns.
In case of any difficulty, contact Wells Fargo home mortgage team at-
Is the Wells Fargo Home Rebate Card a Good Deal?
Last week, Wells Fargo boasted about its homeowners collectively receiving $50 million in mortgage principal reduction via the Wells Fargo Home Rebate Card Rewards Program since its launch back in 2007.
While that sounds pretty nifty, is the program just another marketing gimmick, or does it actually deliver?
Let’s dig into the details to find out.
How the Wells Fargo Home Rebate Card Works
First off, the program relies upon Wells Fargo mortgage holders opening a credit card, known as the “Wells Fargo Home Rebate Card.”
From there, each purchase made using the card earns a 1% rebate, which is credited to the principal balance on your Wells Fargo mortgage in $25 increments.
In other words, once you spend $2,500 with the credit card, you’ll earn a $25 rebate, which will be applied to your outstanding mortgage balance.
For example, if you have a 30-year fixed mortgage with a $200,000 loan amount, and you spend $2,500 per month on the card, Wells Fargo would apply $8,525 toward your principal balance over the life of the loan.
That would save you $7,833 in interest for a total savings of $16,358 (shorter amortization period).
It would also reduce your loan term from 30 years to 28 years and seven months, meaning you’d own your home free and clear just a little bit sooner.
And all of this would be accomplished automatically, with no fees or work required on your end to take part.
Additionally, Wells Fargo Home Rebate cardholders can earn 3% back on gas, grocery, and drugstore purchases during the first six months.
Note: Several types of mortgages are not eligible, including commercial first mortgages, certain second mortgages, farm loans, piggyback mortgages, and loans in process that are not yet funded.
There are pros and cons to the Wells Fargo Home Rebate Card, like any other special offer out there.
The first negative is that it requires opening a credit card, which is essentially an invitation for more debt alongside your behemoth mortgage.
This is all good and well if you already use a credit card for most purchases, but it could land an irresponsible spender in even more debt.
Secondly, the rebate earned via this program is only 1% – many cash-back credit cards these days come with higher rebate levels, with some offering 5% in certain categories quarterly, or 2-3% year-round.
In other words, you could technically just take the cash back earned via your other credit cards and apply it to the principal of your Wells Fargo mortgage, or any other mortgage you happen to pay.
Or you could always just make extra payments to principal yourself or make biweekly mortgage payments instead.
Finally, deep in the terms and conditions of the program, Wells Fargo notes that your mortgage won’t be eligible if they sell your mortgage to another company. And worse, they can shelf the program at their discretion, at any time.
Now neither of those things may happen, but it’s still something to keep in mind when debating about going with the card.
On the flip side, the Home Rebate Card is automated, so you won’t have to worry about a lack of discipline in making extra payments to principal.
As long as you use the card enough, the extra principal payments will be made, and your mortgage will cost you less over time.
Is the incentive enough to go with a Wells Fargo mortgage? Probably not, but if all else is equal (e.g. same interest rate and fees), it could tip the deal in the bank’s favor.
And if you already have a Wells Fargo mortgage, which many Americans do, it’s something worth considering if you do most of your spending with a credit card.
Pros of the Wells Fargo Home Rebate Card
- No annual fee
- No limit to rebate amount
- Principal paid down faster
- Mortgage interest reduced
- Loan term potentially shortened
- No annual fee
Cons of the Wells Fargo Home Rebate Card
- You need to open a credit card
- Requires credit card spending to earn rewards
- You can wind up in even more debt
- Your mortgage may be sold by Wells Fargo (loss of eligibility)
- The program could end at any time
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Common Fees and Costs – Your Mortgage Account – Wells Fargo
This is charged when a request is made to change the scheduled payment plan associated with a Reverse Mortgage. $20 - $50.
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Make payments anytime at Wells Fargo Online®. If you're making a payment from another financial institution, be sure to have the account number and routing number for the transferring account available.
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Manage your Wells Fargo accounts on www.yourwellsfargomortgage.com. Create an account and make your mortgage or home equity payments online quickly and easily. You can also learn more about Escrow accounts for mortgage customers.
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Wells Fargo mortgage hardship programs. Some of the trustees may have started making smaller mortgage payments after receiving a notice from the bank. Wells Fargo has still provided more than solid results over the years.