What you need to know about this loan:
- Loan Amounts Offered: $3,000 – $100,000
- Loan Terms (monthly): 12 to 84 months
- Payment methods: Auto-debit, online payments, or in-person
- Interest rate: 6.99% – 24.49% APR (with discount)
Pros
- No collateral required: Unsecured personal loan without needing home equity.
- Fast funding: Funds can be received the same day upon approval.
- Fixed monthly payments: Predictable payments with no surprises.
- Wide loan range: Suitable for both small and large renovation projects.
- No origination or prepayment fees: Pay off early without penalties.
Cons
- Rate varies by credit score: Best rates reserved for excellent credit profiles.
- No reward incentives: Unlike credit cards, no cashback or point systems.
Why Choose Wells Fargo for Your Loan?
Applying for a home improvement loan with Wells Fargo offers distinct benefits compared to competitors like Chase, Bank of America, Citibank, PNC, and SoFi.
Unlike Bank of America, Wells Fargo doesn’t require collateral—your home equity isn’t needed.
Citibank may have stricter credit rules, while Wells Fargo considers broader financial profiles.
PNC can take several days to fund your loan, whereas Wells Fargo may release funds on the same day.
SoFi might charge origination fees; Wells Fargo doesn’t. Plus, Chase’s loan cap is lower than $100,000 in many cases—Wells Fargo gives more room to finance large projects.
How to Apply for Your Wells Fargo Home Improvement Loan
Click below to check your rate with no credit impact and apply in minutes.