I was working for a small financial institution during all the merging madness.  Tellers were gossiping worse than high school girls about what bank was being bought out and the unsettling feeling of job security.  Rates were dropping faster than the flyers you could print them on.  Remember when your parents would tell you the bigger the bully the harder they would fall?  Well on December 31^st of 2008 the next “bully” fell.  Wells Fargo announced their merger with Wachovia Bank.  I never thought I would live to see a massive financial institution like Wachovia having to merge with another.

Wells Fargo is one of the big four banks of the United States of America.  They have been around for over 150 years.  They have over $1.2 trillion in assets and their market stock value is around $140 billion.  After buying out Wachovia they have over 10,000 stores and 70 million customers.  If you’re shopping for a good lender Wells Fargo seems to be on solid ground.

This is where I wish I would have listened as a teenager.  I wish I would have saved that nest egg for the rainy day, no, the monsoon that was coming.  Now that the market has dropped and rates are at an all time low, the right/savvy person can be cleaning up.  Wells Fargo is offering most home loans and refinances for less than 5% interest.  The Federal Reserve may change the rates daily if desired.  The rates as of April 29, 2010 are:

Wells Fargo offers various loan products.  They offer anything from a 30 Year-Fixed to a 5-Year Adjustable Rate mortgage.  They also offer jumbo loans and FHA loans.  Wells Fargo even offers refinances for consumers with less than perfect credit.  This enables you to access the equity built into your home to pay off other debts.  I highly recommend this for those that have high payment credit cards.

You can begin an application online at www.wellsfargo.com or call 1-877-937-9357.  Be sure to have your entire documentation ready such as: drivers license, recent paystub, existing assets, and collateral.  To ensure you have everything before you begin you can call a representative and ask in order to prepare yourself before you apply.

It looks as though Wells Fargo is merging into success with their competitive mortgage rates and over 150 years of experience.