streamline with wells

It's always a bad time to do a loan with Wells... their turn times are extremely long and they don't' have the best fees or the lowest rates.. contact a LOCAL mortgage broker, not a bank and surely not one of those 50 states internet lending companies... The broker has access to numerous lenders and can shop for the best rate and lowest fees, plus they are licensed and educated.. WilliamAcres.com

Actually, it is a good thing. The main reason is you can basically get credit for your current escrow account verses having to set a new one up. I would be glad to give you a rate quote on a Wells streamline.e-mail me at wsmith@firstohiohome.com if you are interested

Really the only advantage is the fact that the escrow account will transfer over which is great if you need immediate relief and need to "skip a payment" which you pay for in the end anyhow, but regardless of what type of refinance you choose, your escrow balance will be refunded to you. The latest news with Wells is that they are locking on 90-120 days which means that they anticipate your closing to take that long. Processing and underwriting with the "Big Banks" are never local. Your best bet is always to go with someone local that actually wants to earn your business and make you a priority.

I generally agree with all the above answers. Wells Fargo is a good bank but not a great mortgage origination company. Their fees and rates are usually higher than you can get through a local mortgage broker. My advice, call one of the Lender 411 brokers or loan officers and ask them to work up a quote for you. In most cases they will save you money. All the best...

Well! And I thought I was the only WF basher out there. They will promise you the moon and then make you wait forever and then while making you feel like they are doing you the favor, overcharge you, big time. I always advise people to contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. Most of the folks you can talk with at the big banks are not licensed, and their goals are to just get you to submit the app. A Licensed Mortgage Banker/Broker will have access to loan products of many lenders, not just those of the one bank, and they can properly guide you. But more importantly, they are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Actually, I close many loans with Wells Fargo WHOLESALE, that is the key. You need to fnd a local mortgage broker who has a Tier 1 pricing with Wells wholesale or have them shop around with all there banks for th beat rate and terms out there. That is what I have been doing for my clients for 12 yrs.