The Mortgage Record
Lender report card · New Jersey

Wells Fargo Bank Na

Minneapolis, MN · What the federal mortgage record shows about how Wells Fargo Bank Na treated New Jersey applicants, 2018–2025 — 75,144 reported decisions. This is historical behavior, not a prediction about your loan.

Approval rate
74.9%
56,247 approved
Denial rate
25.1%
18,897 denied
Decisions
75,144
2018–2025
Avg. rate spread
+0.09 pp
vs. market benchmark
74.9% approved
25.1% denied

Share of 75,144 New Jersey applications Wells Fargo Bank Na approved vs. denied. Excludes loans it merely purchased on the secondary market, and applications withdrawn or left incomplete.

Approval rate by loan type

Conventional75.2% of 73,223 · NJ 87%FHA46.0% of 1,023 · NJ 79%VA76.4% of 859 · NJ 80%USDA51.3% of 39 · NJ 87%

“NJ” = the statewide average approval rate for that loan type, for comparison.

Approval rate over time

65%69%73%77%81%81%75%73%76%69%71%72%79%20182019202020212022202320242025

Pricing

Adjusting for its loan-type mix, Wells Fargo Bank Na’s rates ran -0.13 pp lower than the typical New Jersey lender (average rate spread +0.09 pp above the market benchmark). Rate spread is APR minus the average prime offer rate; positive means costlier than the low-risk benchmark.

Who Wells Fargo Bank Na approves

By income
Under $50k33.0% · 5,688$50–75k62.6% · 8,791$75–100k72.6% · 9,910$100–150k77.2% · 16,418$150–250k82.6% · 16,666$250k+87.1% · 15,658
By debt-to-income
Under 36%84.4% · 35,77936–43%85.2% · 17,01343–50%80.8% · 13,340Over 50%3.1% · 8,147
By down payment (LTV)
20%+ down74.3% · 52,28910–20% down73.6% · 5,2935–10% down78.1% · 3,4693–5% down74.6% · 1,530Under 3% down32.4% · 698

Why Wells Fargo Bank Na denied applications

Debt-to-income ratio41% of denialsOther35% of denialsCredit history28% of denialsIncomplete application16% of denialsInsufficient cash to close11% of denialsCollateral (value/type)10% of denials

Where Wells Fargo Bank Na lends in NJ

CountyDecisionsApproval
Monmouth County8,08478.1%
Bergen County7,17676.9%
Ocean County6,65477.7%
Middlesex County6,64774.1%
Essex County5,19271.2%
Morris County4,84881.0%
Union County4,44376.1%
Somerset County4,01581.8%

Fees & closing costs

Median total loan costs
$4,699
home purchase
As % of loan
1.11%
NJ median 1.93%
Priced originations
24,637
with fee data

Median lender and third-party costs (the Loan Estimate’s “total loan costs”) on Wells Fargo Bank Na’s home-purchase originations — 0.83 points lower than the 1.93% New Jersey median. Typical lender credit toward costs: $250. Excludes prepaid taxes/insurance and escrow deposits. Fees are reported on roughly two-thirds of originations (small lenders are exempt). Methodology →

Consumer complaints

CFPB complaints
1,298
from NJ, 2022–present
Answered on time
100%
of complaints
Closed with relief
6%
monetary or non-monetary

Complaints New Jersey mortgage customers filed against Wells Fargo Bank Na with the federal Consumer Financial Protection Bureau, 2022–present. Most common issue: Struggling to pay mortgage. Most mortgage complaints concern servicing — payments, escrow, and foreclosure — so this reflects a company’s customer experience as much as its lending, and volume partly tracks how many loans it services. Source: CFPB Consumer Complaint Database.

Compare Wells Fargo Bank Na to other lenders for your profile

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Source: CFPB HMDA loan-level data, 2018–2025 · first-lien, closed-end mortgages on 1–4 family homes in New Jersey reported by Wells Fargo Bank Na (LEI KB1H1DSPRFMYMCUFXT09). Rates describe past reported outcomes for the lender’s applicant pool and are not a prediction for any individual. Methodology →