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| Wells Fargo |
Well Fargo offers a Closing Guarantee, in which they stipulate that they will close your loan on or before the closing date stated in your purchase contract or they will pay your first month's principal and interest payment directly to you. Wells Fargo feels confident that they have mortgage loan closings down to a science, and are willing to prove it. This would obviously take a little stress away from the borrower, knowing that they will either be compensated for any time delay, or they will be right on schedule with their financing.
If the promise of a close isn't enough, borrowers can also receive a pre-approval statement that will show sellers and real estate agents that they are already involved with the lending process and are ready to purchase a home. If buyers are not ready to take that step, a mortgage prequalification will estimate how much they can borrow to buy a new home, based on basic financial data provided.
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