Wells Fargo Reverse Mortgage is available in a variety of options and you can also use it to purchase a new house. Wells Fargo is the number one reverse mortgage loan originator in the country and its popularity is simply because of the services it offers to the consumers.
Its long legacy spanning over a period of 150 years with a history of responsible lending has helped it become a leader in home mortgage industry. This is why it is attracting customers of all sorts with home financing requirements.
The most popular reverse mortgage loan programs at Wells Fargo Bank include Variable-Rate Home Equity Conversion Mortgage (HECM) Standard, Fixed-Rate Home Equity Conversion Mortgage Standard, Home Equity Conversion Mortgage Saver and Home Equity Conversion Mortgage for Purchase.
The last two programs are available with fixed rate as well as adjustable rate options. HECM Saver comes with low closing costs and HECM for Purchase helps you buy a new home using the proceeds of the reverse mortgage loan. All programs are backed by FHA and are open to senior homeowners with more than 62 years of age.
Wells Fargo Reverse Mortgage Calculator
It is a requirement to attend a reverse mortgage loan counseling session conducted by a HUD-approved agency prior to applying for a loan option at Wells Fargo. Note that you may be required to pay fees for the same. Moreover, it is always a better idea to start by estimating the amount you are eligible to borrow under a program and whether or not you need to repay the loan amount.
A Wells Fargo Reverse Mortgage Calculator will help you compute the maximum amount of fund available to you by taking into account the various financial and personal information you supply to it. The calculator is available online and is easy to put into use.
Feed this online calculator with information like the date of birth, property zip code, estimated home value and the amount you sill owe on your property. The result will show you the type of the loan programs suitable for you and the maximum limit of the available credit, either as a lump sum or as a line of credit.
Wells Fargo Reverse Mortgage Customer Service
Wells Fargo reverse mortgage customer service is accessible over phone and you can also send them a secure email. If you want to get through the servicing department you need to call at 1-866-234-8271. All information pertaining to reverse mortgage servicing can be had from this department. For information regarding jobs, rates, wholesale solutions and any other requirements or to report complaints talk to a specialist available at the following phone number of Wells Fargo reverse mortgage customer service.
Phone Number: 877-291-4333