We’ve been seeing some fairly decent mortgage rates in Illinois offered through Wells Fargo’s mortgage division recently. If you happen to be in the market for an adjustable rate mortgage (more specifically a 5/1 ARM) AND if you live in Illinois you may want to stop by your local Wells Fargo. Currently with a down payment of 20% you can lock in a 5/1 ARM for 3.142% APR. This APR was recently found at Wells Fargo in Peoria, IL, Vernon Hills, IL and Woodhul, IL but may be available in other Wells Fargo locations throughout the state.
Below is a list of Wells Fargo’s Mortgage Rates offered in some regions in Illinois:
- 3.142% APR 5/1 adjustable rate mortgage with 1% origination fees and 20% down
- 4.311% APR 15 year fixed rate mortgage with 1% origination fees and 20% down
- 4.907% APR 30 year fixed rate mortgage with 1% origination fees and 20% down
Why Choose Wells Fargo as your Mortgage Provider?
(find out more on Wells Fargo’s home mortgage page)
1) Service – Time your payments with your paycheck. Manage your mortgage and your finances in one place. Use their “PriorityBuyer preapproval” to ease home purchase uncertainties. If approved for this you will receive guaranteed closing.
2) Reliability – Wels Fargo will continue to service their loans rather than selling them off. Customers with less than ideal credit can take advantage of their “Steps to Success” program which provides free credit management education.
3) Stregth – Wels Fargo claims that despite today’s changing mortgage market, Wells Fargo Home Mortgage is uniquely positioned for success AND as a mortgage industry leader, they are committed to helping as many customers as possible enjoy the personal and financial benefits of home ownership.