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Many people today are choosing to refinance their mortgage. You could lower your monthly payment, lower your interest rate, or shorten the life of the loan. When refinancing a mortgage, it is important to choose a reliable company who can be trusted. You could refinance with your current mortgage company; however, it is always good to check around to make sure you are getting the best deal. Wells Fargo offers consumers with the option to refinance their existing mortgage.

Wells Fargo has better customer service than most lenders. Representatives are normally available to help you with any questions that you might have. If you are a current Wells Fargo customer, you could be eligible for a streamline refinance loan. With this loan, you have less paperwork to submit, and the lender does not check your credit. You just need to be current with your existing payments, and you cannot have been late on past payments.

If you choose the regular refinancing option, you can apply by calling Wells Fargo. You can complete the application quickly and easily. You will need to know information about your current mortgage, such as the interest rate, lender, and monthly payment amount. Wells Fargo usually wants your credit score above 620.

While applying for a loan, the representative will probably ask detailed questions. Some documentation might be requested. Wells Fargo might ask you to submit W2s, bank statements, pay stubs, and tax returns. The lender might also order a home appraisal and inspection.

Wells Fargo also allows you to refinance and access the equity in your loan. If you need some extra cash for anything, you might be able to take some cash out. In some cases, you might want to switch from a fixed mortgage to an adjustable rate mortgage. If refinance rates are low, you might want to take advantage of them. Before you consider refinancing with Wells Fargo, you need to look at the origination charge, such as an application fee, you need to look at discount points, and you need to see if there is a prepayment penalty for paying off our loan early. Wells Fargo has numerous refinance options.

Wells Fargo is a leader in the mortgage loan business, so they could be considered for your refinancing needs. The company recently suffered a setback when unauthorized accounts were created for people. However, that is behind the company, so Wells Fargo would be an excellent choice.