If you are a homeowner who is looking into refinancing or modification of your home loan, than finding the right company, with the lowest interest rates, and best customer service is crucial. Out of the large number of mortgage lenders and banks that offer refinancing or modification options, Wells Fargo truly stands out from the rest.

Wells Fargo is able to offer your the guarantees and assurances you need when making such a big crucial financial decision, such as refinancing your home mortgage. When you have decided to work with Wells Fargo for a loan refinance or modification, you are getting one of the best loans available in the market, and a company which takes pride in its customer satisfaction and meeting their customers needs.

Refinancing or modification of a home loan is a very involved process. Because of this, you want to be sure you have a mortgage lender or bank that will take the time and effort of detailing and explaining all of the steps involved, why they are needed, and what happens next, as well as answers for any question you can think of involving your mortgage, refinancing, or loan modification. By choosing to work with Wells Fargo, you are going to have a wide selection of loan types, refinancing options, and payment plans, including the choice of a fixed rate, or an adjustable rate mortgage (ARM).

Choosing a stable, fixed rate loan, is generally recommended, but will be explained in full detail from your Wells Fargo loan officer. A fixed rate loan offers long term stability and the security in knowing that regardless of market conditions, your monthly mortgage payment will remain the same. Homeowners living on a fixed income will know that their interest rates will never jump, possibly costing a homeowner hundreds of dollars in additional money spent on a monthly loan payment. Although, if you are looking for some flexible options, and are not planning on living in your home for much longer, an adjustable rate mortgage (ARM) may be the right solution for you.

When choosing an adjustable rate mortgage (ARM), you typically get a ultra low rate for the first few years, which can also be locked in for that period. This rate is almost always lower than the going rate for a fixed rate mortgage. A Wells Fargo loan representative will also explain to you that if you are planning on living in your home for only a few more years, that an ARM loan can be the best thing for you. This way you can take advantage of the low introductory rate, and then get out of it before the rate becomes adjustable. Also, an interest cap may be added to prevent ridiculously high interest rate surges from occurring.

Another great thing for homeowners that Wells Fargo offers is flexible, and different payment terms options. Generally, a home loan is 30 years long, however with Wells Fargo you can choose varying between 10 through 20 years, which saves you enormous amounts of money on interest payments as compared to a thirty year home mortgage.

In my mind, there is no doubt that refinancing or loan modification with Wells Fargo is a sure fire way to ensure yo get the absolute best refinancing, or home loan deal possible. Always ask any questions you can think of and be straightforward with your lender.

-M Petrone

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