Does anyone know how much of a down payment Wells fargo Bank want out of their bank-owned properties?
I live in California so I was wondering how much like 10% or 5% down payment. I really like this house and it is owned by Wells Fargo but before i put in an offer i'd like to know how much of a down payment they want. Thanks for your time.
Public Comments
- Wells Fargo doesn’t give a rat’s tail about your down payment unless they’re providing the financing. If you plan to secure financing with them, you should apply for a loan BEFORE submitting an offer (offers are normally accompanied by a pre-approval letter), and they’ll tell you what kind of down payment is expected. Otherwise, the only party who cares about your down payment is your lender.
- Well they really don't care about your down payment, but what they will care about is your deposit. Banks generally look for a 3-5% deposit on their properties. Once you close they could care less if it goes to a down payment, or back in your pocket.
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