Your home is your financial base. Lay a foundation for wealth building: come to Wells Fargo for your Home Mortgage or Home Equity loan.Every home is different. Every family is unique. That's why our home mortgage consultants and personal bankers will recommend a home mortgage or equity loan that's particularly right for you. We have a variety of loans with features and benefits that range from simple to sophisticated financial plans. But whichever home financing plan you choose, trust that all of our loans have competitive rates, flexible terms and affordable payment options. Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. can help you turn home ownership into a foundation for wealth building. And if you already have a home that has built up equity, then we can construct a plan to turn your home into a working asset. The bottom line is you are the architect. And your home is your financial base. So, let's talk. Please join us at a Wells Fargo Wealth Building Strategies Seminar near you. Together, we can determine the home financial plan that's right for you. As the nation's leading home mortgage lender to African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. *, Wells Fargo helps families reach their goals with home ownership and smart management of their home asset. Helping First-Time Home Buyers When Tracy Allen contacted Wells Fargo Home Mortgage, the nation's leading retail mortgage lender, she had no idea she could purchase a home with no money down. Like most renters, she thought she was years away from owning a home. But, that didn't stop her from researching her options. She explained her financial situation to Ken Beckles, a Boston Wells Fargo Home Mortgage branch manager, and together they embarked on the road to home ownership. "Ken educated me about the home-buying process. He was wonderful." Educating the home buyer is key to helping consumers understand the various mortgage options available to them. Ken explained the products and services within Wells Fargo's National Homeownership Program [SM], such as the Wells Fargo no-money down loan program that allows customers to finance 100% of the cost of the home. individuals with credit concerns or who have not accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. savings for a down payment can learn more about Wells Fargo's flexible programs and loans. All first-time home buyers are encouraged to read our Homeownership Guides, speak with a mortgage consultant and attend our home buyer's seminar. The no-money-down mortgage feature was the right strategy to help Tracy purchase a late-1800s, two-unit home for $192,000. She was only required to pay closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, , which were approximately $1,000. Ken helped Tracy go from renting to owning rental property. Now, she uses her rental income Noun 1. rental income - income received from rental properties income - the financial gain (earned or unearned) accruing over a given period of time to supplement her mortgage. Helping Homeowners Renovate Homes When Michelle Jones-Boxley first saw her three-bedroom, 1940s row house, she realized she found a diamond in the rough. Like many older homes in the Washington, D.C. area, the row house needed renovations. Michelle wasn't deterred. She knew that improving her new home would positively impact her community. But Michelle had to figure out how to pay for the $25,000 in home improvements. After unsuccessfully reaching out to several lenders, a friend recommended Wells Fargo, the nation's leading home mortgage lender. Michelle contacted Yvonne Gipson, a home mortgage consultant/renovation specialist, and together they created a financial plan that fit Michelle's particular needs. Yvonne recommended that Michelle refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. her existing mortgage with a renovation loan. A renovation loan is a mortgage product that allows a customer to get everything they need with one loan, making it easier for people to purchase the home of their dreams as well as make repairs. And, the buyer can borrow an amount based on the improved value of the home. "Yvonne asked me what I wanted to do and I created a list--new hardwood hardwood: see wood. hardwood Timber obtained from broad-leaved, flower-bearing trees. Hardwood trees are deciduous trees, except in the warmest regions. floors, a Jacuzzi, a new bathroom and vanity Vanity See also Conceit, Egotism. Barnabas, Parson conceited and weak clergyman. [Br. Lit.: Joseph Andrews] Bottom, Nick self-important weaver. , a new roof and a new AC system." Now, Michelle's 1940s row house reflects her contemporary lifestyle and her commitment to the community. Homeowners Build Wealth When Hans and Lisa Kappel bought their home, they knew they were taking the first step to wealth building. "The biggest advantage of home ownership is equity." After their second child arrived, the Kappels wanted to make home improvements and have a readily available source of cash to meet any unexpected family needs. They contacted Wells Fargo, the nation's leading home mortgage and home equity lender. They worked with Vincent Samson, a branch manager in Atlanta and were able to access the equity in their home with a home equity loan from Wells Fargo. Now the Kappels have a nest egg Nest Egg A special sum of money saved or invested for one specific future purpose. Notes: Examples of the purposes for which nest eggs are usually intended include retirement, education, and even entertainment (vacations and cruises). they can access for home repairs, improvements or simply to meet the needs of their growing family. And for homeowners who have built up equity and want to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. their portfolios with real estate, purchasing a second home is a smart investment opportunity. Since it's an investment, the objective is for the value of the property to increase. With potential tax-deductible interest ** and flexible terms and payment options, home equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. helps all homeowners gain more control over their finances and enables families to build wealth. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study conducted by the Joint Center for Housing Studies of Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. ***, more than $1.5 trillion in home equity wealth could pass from one generation to another in the next 20 years. * Based upon internal analysis of 2002 HMDA HMDA Hexamethylene Diamine (chemistry) HMDA Hitchhiker Motorized Door Assembly HMDA High Mobility DGM Assemblage HMDA Home Mortgage Disclosure Act of 1974 data. ** Please consult your tax advisor A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in . *** Reprinted from the "2003 State of the Nation's Housing" with permission from the Joint Center for Housing Studies of Harvard University. Learn more about homeownership. Attend a Wealth Building Strategies Seminar near you. For more information call: Home Mortgage Financing 800-557-4790. Home Equity Financing 866-439-7704. In addition, Wells Fargo provides FREE Homeownership Guides available at www.wellsfargo.com/mortgageguides |
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