Wells Fargo Dream. Plan. Home. Mortgage
A Wells Fargo fixed-rate mortgage with a down payment as low as 3% for eligible consumers at or below 80% of area median income. A lower rate and lower mortgage-insurance premiums may be available, subject to underwriting.
- Down payment
- Down payment as low as 3% on a fixed-rate mortgage.
- Credit context
- Designed in part for consumers with limited credit history. Wells Fargo underwriting applies; the public program page does not state a product-specific universal minimum score.
- Income rules
- Designed for consumers with income at or below 80% of the area median income where the property is located.
- Mortgage insurance
- Confirm whether it applies, what it costs and when it can end with your lender.
Individual lenders set the interest rate, fees, mortgage-insurance treatment, and final approval requirements. Compare written Loan Estimates before choosing.
How repayment works
Your monthly housing payment usually includes principal and interest, and may also include property taxes, homeowners insurance, mortgage insurance, and association fees. Your lender’s written Loan Estimate and Closing Disclosure control the actual costs and terms.
A lower advertised down payment does not necessarily mean the lowest monthly payment or lowest total cost.
Who it may fit
A Wells Fargo fixed-rate mortgage with a down payment as low as 3% for eligible consumers at or below 80% of area median income. A lower rate and lower mortgage-insurance premiums may be available, subject to underwriting.
These are situations worth exploring, not a qualification decision.
What could rule it out
- The issuing body does not set a single credit floor; each lender sets its own.
- Household income may not exceed 80% of area median income for the property location.
Costs and terms to confirm
- Cash needed
- Down payment as low as 3% on a fixed-rate mortgage.
- Credit
- Designed in part for consumers with limited credit history. Wells Fargo underwriting applies; the public program page does not state a product-specific universal minimum score.
- Income
- Designed for consumers with income at or below 80% of the area median income where the property is located.
Ask each lender for the interest rate, annual percentage rate, lender fees, mortgage insurance, cash to close, and total payment using the same assumptions.