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Wells Fargo

Wells Fargo Home Equity Line of Credit Review

Wells Fargo is one of the largest banks in the country, with branches in 41 states. It only offers fixed rates on home equity lines of credit, which means that customers looking for more flexibility may want to look elsewhere. However, the caps on these rates mean that they are one of the best banks for home equity lines of credit.

What We Learned


Rate caps and lifetime rate caps can help keep loans from Wells Fargo cost effective.



Wells Fargo does not offer traditional home equity loans.



Detailed Review

Wells Fargo is a bit of an anomaly in our review, as they do not offer home equity loans, only home equity lines of credit. However, their programs and different home equity lines of credit options are better than many of the other lenders we looked in to. As a result, they are a great place to look for home equity credit lines.

Rates and Fees

Wells Fargo doesn’t offer variable rate lines of credit, only fixed rate lines. However, they have a special feature called interest caps. These caps limit the amount of money you will have to pay as interest on your home equity line of credit, which provides a great deal of predictability. Moreover, the rates that they offer on home equity lines of credit are some of the best in the industry. Combined with their long history and branches in 41 states, this makes Wells Fargo one of the best places to go if you are interested in obtaining a home equity line of credit. As with most home equity lines of credit, Wells Fargo will charge interest during the draw period, and you only have to pay on what you borrow. One of the nice things with Wells Fargo is that you can negotiate your repayment period for your line of credit with your loan officer.

Wells Fargo


Wells Fargo is most concerned with the loan-to-value ratio on the line of credit they are willing to offer you. They stopped offering home equity loans in August of 2015, so the line of credit is your only option if you are set on working with Wells Fargo for your home equity product needs.

Wells Fargo

Loan Requirements

Because Wells Fargo does not offer home equity loans, it is hard to assess them in terms of requirements compared to other lenders. However, their home equity lines of credit are very predictable, and you can use the calculator tools on their website to determine how much credit you might be eligible for, and get a better idea on your interest rates. You have to pay interest on your line of credit during the draw period, but Wells Fargo is reasonably flexible when it comes repayment of home equity lines of credit. As a result they are a good place to look if you just want a line of credit and aren’t interested in getting a full loan.

Customer Experience

Customers have had generally good experiences with Wells Fargo, however there have been some recent complaints. Notably, loan officers tend to call individuals who send email inquiries. This can become annoying if you are busy and don’t have time to be on the phone with a loan officer. Additionally, the sheer number of open branches means that it is easy for a customer to walk into a branch and get assistance with their home equity line of credit, which can be appealing to many customers.


Wells Fargo is a good place to go if you are sure that you want a line of credit and not a loan on your home equity. They have a large number of branches where customers can get in person help, and have competitive rates and interesting rate features which many customers will find enticing. Check them out if you are interested in a HELOC.

Wells Fargo