Where to pay your Wells Fargo mortgage payment

Wells Fargo offers several ways to make your monthly payment. The fastest and most direct method is through Wells Fargo Online, their web portal where you can log in with your mortgage account number and make a one-time payment or set up automatic payments. You can also pay by phone by calling Wells Fargo Home Mortgage at 1-800-869-3557, where a representative can process your payment over the phone using a bank account or debit card.

If you prefer to mail a check, your payment coupon (included with your monthly statement) shows the mailing address. Mail payments take 7 to 10 business days to reach Wells Fargo, so send them early enough that they arrive by your due date. Some borrowers also set up automatic payments directly from their bank account, which removes the risk of late payment if you forget to submit it manually.

Wells Fargo also accepts payments through their mobile app if you have a Wells Fargo bank account. The app lets you view your loan balance, see your payment history, and make payments on the same schedule as the online portal.

Key Takeaways

  • You can pay online through Wells Fargo's website, by phone at 1-800-869-3557, by mail using your payment coupon, or through their mobile app.
  • Automatic payments from your bank account are the most reliable way to avoid late fees, since they process on a schedule you set.
  • Mailed checks take 7 to 10 business days, so send them well before your due date to avoid a late payment on your credit report.
  • Your monthly statement shows your current balance, interest paid, principal paid, and the next payment due date.

Setting up automatic payments

Automatic payments remove the need to remember your due date each month. To set this up online, log into your Wells Fargo mortgage account, select "Make a Payment," and choose "Set Up Automatic Payments." You will need to provide your bank account number and routing number. Wells Fargo will deduct the payment on the date you choose, typically a few days before your loan's due date.

If you set up automatic payments, you can still make extra payments or lump-sum payments whenever you want — automatic payments do not lock you into paying only the minimum. Many borrowers use automatic payments for their regular monthly amount and then make additional principal payments when they have extra money, which reduces the total interest paid over the life of the loan.

You can change or cancel automatic payments anytime through your online account or by calling 1-800-869-3557. If you cancel, you will need to resume making manual payments to avoid falling behind.

Understanding your payment breakdown

Your monthly payment is divided into principal and interest. Principal is the amount that reduces what you owe on the house; interest is what Wells Fargo charges for lending you the money. Early in your loan, most of your payment goes toward interest. As you pay down the principal, more of each payment goes toward principal and less toward interest.

If you have an escrow account (which many borrowers do), your payment also includes money for property taxes and homeowners insurance. Wells Fargo holds this money in escrow and pays those bills on your behalf when they are due. Your monthly statement breaks down exactly how much of your payment goes to principal, interest, and escrow.

Some loans also include private mortgage insurance (PMI) if you put down less than 20 percent. PMI protects Wells Fargo if you default, and it is added to your monthly payment until you reach 20 percent equity in the home. Once you do, you can request that PMI be removed.

What happens if you miss a payment

If your payment is not received by the due date shown on your statement, Wells Fargo will report it as late to the credit bureaus. A single late payment can lower your credit score by 100 points or more and will remain on your credit report for seven years. Late fees also apply — Wells Fargo typically charges a late fee equal to 5 percent of your monthly payment if you are 15 or more days late.

If you are 30 days late, Wells Fargo may begin calling and sending notices. If you reach 120 days late (about four months), the loan enters default, and Wells Fargo can begin foreclosure proceedings to take back the house. The earlier you contact Wells Fargo about a missed payment, the more options you may have to catch up without losing the home.

If you are having trouble making your payment, call Wells Fargo's loss mitigation team at 1-800-869-3557 before you miss a payment. They can discuss options like loan modification, forbearance (temporarily lowering or pausing payments), or refinancing.

Paying extra principal to reduce interest

Making extra payments toward principal can save you thousands in interest and shorten your loan term by years. When you make an extra payment, specify that it should go toward principal, not toward next month's payment. Some borrowers make one extra payment per year; others add $50 or $100 to their regular payment each month.

Before you commit to extra payments, make sure you have an emergency fund in place. Paying extra on your mortgage is only a good move if you are not going into debt elsewhere to do it. Also check whether your loan has a prepayment penalty — some older mortgages charge a fee if you pay off the loan early, though this is rare on newer loans.

You can make extra payments online, by phone, or by mail. Just make sure to clearly mark that the payment is an extra principal payment so Wells Fargo applies it correctly.

Changing your payment date or amount

Your loan documents specify a due date (usually the first of the month), and you cannot change that date permanently. However, if you need to move your payment a few days earlier or later in a given month, you can contact Wells Fargo to discuss a one-time adjustment. This is not a standard feature, so ask whether it is possible in your situation.

You also cannot change your regular monthly payment amount on your own — that amount is set by your loan terms. If you want to lower your payment, you would need to refinance the loan or modify it through Wells Fargo's loss mitigation program (which requires demonstrating financial hardship). If you want to pay more, you can make extra payments without changing the base payment amount.

Accessing your payment history and account information

Log into your Wells Fargo mortgage account online to see your full payment history, current balance, interest paid year-to-date, and upcoming payment due dates. This information is also on your monthly statement. Your online account shows payments that have been processed; if you just made a payment, it may take one to two business days to appear.

You can download statements and payment history from your online account, which is useful for tax records or refinancing applications. If you need a formal document like a loan payoff statement (showing exactly how much you owe if you want to pay off the loan early), you can request it through your online account or by calling 1-800-869-3557.

Frequently Asked Questions

How long does it take for a Wells Fargo mortgage payment to post?

Online and phone payments typically post within one to two business days. Mailed checks take 7 to 10 business days. Automatic payments post on the date you select. If your payment is not showing in your account after two business days, contact Wells Fargo to confirm it was received.

Can I pay my Wells Fargo mortgage with a credit card?

Wells Fargo does not accept credit card payments directly for mortgages. However, you can use a third-party payment service (like Plastiq) that accepts credit cards and forwards the payment to Wells Fargo, though these services charge a fee. For most borrowers, paying from a bank account is simpler and cheaper.

What is the difference between my due date and my grace period?

Your due date is when your payment is expected. Most mortgages have a 15-day grace period, meaning you will not be charged a late fee if you pay within 15 days after the due date. However, the payment is still reported as late to credit bureaus after the due date, even if you are within the grace period. Pay by the due date to protect your credit score.

Can I make a partial payment if I cannot pay the full amount?

Wells Fargo may accept partial payments, but they will not prevent a late fee or late report if the full payment is not received by the due date. If you cannot make your full payment, contact Wells Fargo's loss mitigation team before the due date to discuss forbearance or other options.

How do I get a payoff quote from Wells Fargo?

You can request a payoff statement through your online account or by calling 1-800-869-3557. The payoff amount includes your remaining principal balance plus any interest accrued through the payoff date. Payoff quotes are typically valid for 10 to 15 days, so use them quickly if you are refinancing or selling.