Current mortgage and refinance rates

We consider a variety of factors when we determine the interest rate and costs of your loan. The process of reviewing these factors to determine your rate is called "risk-based pricing."

The typical factors we look at include:

• Credit profile: We'll obtain a credit report that shows your current debts and payment history. The report will also include a credit score based on your overall credit history.
• Property type: Investment properties, condominiums, and multifamily homes are generally considered to be higher risks than single family detached homes.
• Loan-to-value (LTV) ratio: The amount you want to borrow compared to the appraised value of the property. Generally, the lower your LTV ratio, the lower your interest rate and costs.
• Debt-to-income (DTI) ratio: The amount of your mortgage payments and total debt payments compared to your income. A higher DTI ratio may mean higher interest rates and costs.
• Type of loan: Purchase versus refinance, an adjustable rate versus fixed rate, or cash-out refinance versus rate-and-term refinance, may affect overall risk.

Some other things that may affect your interest rate:

• Closing cost credits: You may be able to finance a portion of your closing costs as part of your loan. This may result in a higher interest rate.
• Discount points: A discount point is paid to obtain a lower interest rate that may reduce your monthly payment amount.
• Asset-Based Relationship Discount: For jumbo loans, you may qualify for a rate discount based on the balance of your eligible assets at Wells Fargo Bank, N.A. and/or Wells Fargo Advisors^,. Refer to your Customer Rate Discount Disclosure in your initial disclosure package for additional details on the Asset-Based Relationship Discount.
• Additional risk factors: We may also consider other risk factors when determining your interest rate and costs, including previous bankruptcies, foreclosures, or unpaid judgments.