How to Get a Loan From Wells Fargo

(July 2024)

How to Get a Loan From Wells Fargo

In This Article

Are you in need of a loan to attend to a financial need? If yes, Wells Fargo can be of great help to you. Understand that accessing a loan from Wells Fargo involves a simple and easy method for the financial help you require. Whether you’re interested in a personal loan, mortgage, auto loan, or any other type of financing, don’t forget that you can get the specific loan that you need. This article explains the necessary steps you need to take for a successful application. Read till the end to access all you need to know.

To Get Loan From Wells Fargo

  1. Determine Your Loan Needs 
  2. Check Eligibility Criteria 
  3. Gather Your Financial Information
  4. Research Wells Fargo’s Loan Offerings
  5. Apply on The Wells Fargo Website
  6. Wait For Approval
  7. Apply For Prequalify 
  8. Sign The Loan Agreement 
  9. Receive The Funds

Curious? Continue reading.

1. Determine Your Loan Needs 

To access loans from Wells Fargo, figure out why you need the loan. Whether it’s for purchasing a home, funding education, consolidating debts, covering unexpected expenses, or expanding your business, having a clear purpose helps you choose the right loan product.  Being well-informed about your needs and financial situation can help you make an informed decision and secure a loan that aligns with your requirements.

2. Check Eligibility Criteria

To obtain a loan from Wells Fargo, check your eligibility criteria. Keep in mind that the requirements for getting a loan from Wells Fargo can differ based on the particular loan option you choose. Some of the criteria include:

Credit Score

If you’re looking to get a loan with Wells Fargo, having a good credit score is super important. You need a good or excellent credit score (690 or above) to get the best interest rates on a Wells Fargo loan.

Income and Employment

When you’re applying for a loan, make sure you have a solid income and employment. Wells Fargo wants to see that you’re financially stable and can handle repaying the loan. Gather up all those important documents like pay stubs, tax returns, and anything else that proves you’ve got a steady income. 

Debt-to-Income Ratio (DTI)

Wells Fargo considers your DTI ratio, which is the percentage of your monthly income that goes toward paying debts. However, DTI ratio requirements vary depending on the type of loan you are applying for. If you want to get a loan for mortgages, Wells Fargo generally requires a DTI of 36% or less. For other types of loans, such as auto loans and personal loans, Wells Fargo’s DTI requirements may be higher.

Collateral (for Secured Loans)

If you’re applying for a secured loan, such as a home equity loan or auto loan, you may need to provide collateral to secure the loan. Collateral could be your home, car, or other valuable assets.

Citizenship and Residency

If you’re looking to apply for most Wells Fargo loans, make sure you’re either a U.S. citizen or a legal resident. That’s a must-have requirement, so keep it in mind while considering your options.


If you’re thinking about applying for a loan from Wells Fargo, make sure you’re at least 18 years old.

3. Gather Your Financial Information

To apply for a loan from Wells Fargo, you need to gather several essential documents. Bear in mind that the specific requirements may vary depending on the type of loan you’re applying for, but some common documents include:

  • Identification documents: provide a valid government-issued ID, such as a driver’s license, passport, or state ID card.
  • Proof of Income: Get documents like pay stubs, W-2 forms, or tax returns to demonstrate your income and ability to repay the loan.
  • Employment Details: Present information about your current job, including your employer’s name, address, and contact information.
  • Financial Statements: Show your bank statements and investment account statements to show your financial history and stability.
  • Credit History: Provide your credit report, which you can obtain from credit bureaus, to assess your creditworthiness.

4. Research Wells Fargo Loan Options

To receive a loan from Wells Fargo, research the Wells Fargo loan options available. Understand that Wells Fargo presents a wide array of loan options to suit your financial needs. 

Keep in mind that their extensive range includes personal loans and mortgages, catering to various requirements such as home purchasing, refinancing, or funding important life events. As a trustworthy lender, Wells Fargo offers competitive interest rates, flexible terms, and user-friendly online application procedures, to ensure you have a smooth borrowing experience.

 The interesting thing is that their dedication to responsible lending and transparent practices can inspire confidence in you especially if you are seeking financial support. Whether you require a quick financial boost or a long-term investment, Wells Fargo’s diverse loan offerings accommodate different situations, establishing them as a preferred choice for dependable and reputable lending solutions. Wells Fargo offers loan amounts between $3,000 and $100,000 and terms range from one to seven years depending on the loan amount.

5. Apply on The Wells Fargo Website

To acquire a loan from Wells Fargo, apply on their website.

  • Visit the Wells Fargo Website: Open your web browser and go to the official Wells Fargo website at
  • Sign In or Create an Account: If you already have an account with Wells Fargo, sign in using your username and password. If you don’t have an account, you need to create one. Look for the “Sign On” or “Register” option on the website’s homepage.
  • Navigate to the “Loans & Credit” Section: Once you’re logged in, find the “Loans & Credit” section on the Wells Fargo website. 
  • Choose the Type of Loan: Browse through the available loan options to find the one that best suits your needs. Wells Fargo offers a range of loans, including personal loans, home loans, auto loans, student loans, and more.
  • Click on “Apply Now”: Once you select the type of loan you want, click on the “Apply Now” button or a similar option. This takes you to the loan application page.
  • Complete the Application: Fill out the loan application form with accurate and up-to-date information. Note that the bank may ask you to provide personal details, employment information, financial data, and the loan amount you’re requesting.

6. Wait For Approval

To receive a loan from Wells Fargo, wait for your loan approval. Once you submit your application, Wells Fargo reviews your information and assesses your creditworthiness. The approval process may take some time, and the bank may contact you for additional documentation or information. During this waiting period, it is possible that Wells Fargo may reach out to you for additional documentation or further clarification on certain aspects of your application. This is a routine part of their thorough evaluation process, to ensure that they have a comprehensive understanding of your financial situation and make an informed decision.

7. Apply For Prequalify

To access a loan from Wells Fargo, apply for prequalify or “soft pull”. When you apply for a soft pull, you can get an estimation of your interest rate and monthly payment. Understand that a soft credit inquiry is a non-binding request for your credit report details. 

Here’s how you can initiate a soft credit check with Wells Fargo:

  • Provide your details on the Wells Fargo website to receive a pre-qualification offer.
  • Contact Wells Fargo over the phone and request a soft credit inquiry.
  • Use a third-party website or app that collaborates with Wells Fargo to check your rate.

8. Sign The Loan Agreement

To acquire a loan from Wells Fargo, sign the Loan Agreement. If you are comfortable with the terms and conditions outlined in the loan agreement, you can proceed with signing it. Understand that the Loan Agreement serves as a legally binding contract between you and Wells Fargo. It explicitly lays out the terms of the loan, including the principal amount, the interest rate, the repayment schedule, any applicable fees, and other essential provisions that govern the borrowing arrangement.

Depending on the application method you use, you may sign electronically through Wells Fargo’s online portal or in person at a branch.

9. Receive The Fund

To qualify for a loan from Wells Fargo, receive the fund. Keep in mind that getting the funds is the final step in the loan process, and it’s an important moment for you as you gain access to the financial assistance you need. Once the bank approves your loan, you can receive your money in the bank account you provide during the application process. Some lenders may offer you other options, such as sending a check or providing funds through a prepaid card.


To get a loan from Wells Fargo, you need to follow a stepwise process to ensure a successful application. Firstly, know why you need the loan and check the eligibility criteria. Gather all your financial information and research Wells Fargo’s loan offerings. Then go ahead and apply on the Wells Fargo website, wait patiently for your approval, sign the loan agreement, and receive your funds.

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