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Wachovia Bank
Wachovia Bank
Lender Name:
Wachovia Bank
Headquarters:
Charlotte, NC
Website:
www.wachovia.com
Loans serviced:
462,784
Top states:
FL, NC, GA, SC, NJ, VA, DC, PA, AL, TX
Retail offices:
780
Pros:
Great customer service, knowledgable loan officers, flexible programs
Cons:
slow response time in the servicing department
Bills.com user rating (out of 10):
9
Bills.com summary:
Wachovia is one of the largest providers of financial services in the United States, with retail and commercial banking operations in 21 states from Connecticut to Florida and west to Texas and California, offering nationwide retail brokerage and mortgage lending
Bills.com opinion:
Wachovia has worked hard to become one of the top lenders of choice for consumers nationwide by offering a wide selection of specialty and standard mortgages, and backing it up with a knowlegdeable customer service staff and flexible payment options.
Bill's Expert Advice
Refinance Success Stories
Read a personal story about going through a home refinance and gain a better understanding of how it's done.
Home refinance success story
Home Refinance Calculators
Real estate Web site offers advice for first-time buyers
An $8,000 homebuyer tax credit may be enough to motivate some consumers to buy their first home.
Mar 10 2010
Refinancing drops, while home purchases increase
Higher interest rates may be discouraging homeowners from mortgage refinancing.
Mar 10 2010
Pending home sales drop in January
A federal tax credit was not enough to fuel existing-home sales in January.
Mar 08 2010
Refinancing activity increases as rates return to low levels
The share of overall mortgage activity accounted for by refinance applications also increased to 69.1 percent from the previous week's 68.1 perc
Mar 03 2010
Refinance program extended through June 2011
The Obama administration recently announced an extension to a mortgage refinancing program aims at helping distressed homeowners.
Mar 03 2010
Glossary of Home Refinance Terms
Adjustable Rate Mortgage (ARM): a mortgage where the interest rate fluctuates periodically based on the specified index.
Annual Percentage Rate (APR): the percent of a mortgage, based on interest, mortgage insurance, and loan origination fee (points), established as a yearly rate.
Loan To Value (LTV): the ratio of the loan amount to the value of the home. LTV is used when determining interest rates. Higher LTV ratios typically result in higher interest rates.
Points: charges levied by the lender that are normally payable at closing. One point equals 1% of the value of the loan.
Refinance (Refi): paying off one loan through the means of obtaining another; refinancing is a way to secure a lower interest rate.
Average Mortgage Rates
| program | apr |
|---|---|
| 30 Yr Fixed | 5.25% |
| 15 Yr Fixed | 4.56% |
| 30 Yr Fixed Jumbo | 6.02% |
| 15 Yr Fixed Jumbo | 5.56% |
| 3/1 ARM | 4.61% |
| 5/1 ARM | 4.13% |
| 7/1 ARM | 4.39% |
| 10/1 ARM | 4.56% |
| 3/1 ARM (I/O) | 5.26% |
| 5/1 ARM (I/O) | 4.17% |
| 7/1 ARM (I/O) | 4.44% |
Home Refinance Articles and Advice
How to Determine if it's Time to Refinance
Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure that the timing is right to refinance? Are the rates and the current mortgage market the best indicators?
Time for a home refinance
The Why, When, and Where of Home Refinance
You've heard of refinancing, but do you know why you should go through a refinance? Do you know when the best time is to refinance? Discover the factors that determine why, when, and where to refinance your home.
Home refinance
Mortgage Refinance Dos
Getting ready for a mortgage refinance? Find out exactly what you need to do to have a trouble free mortgage refinance.
Home refinancing
How to Get the Best Home Refinance Loan Possible
Never gone through a home refinance before? Here are some things you want to make sure of before you settle on an offer.
Best home refinance loan
Bad Credit and Home Refinance
If you're struggling with bad credit, don't let your poor credit discourage you from refinancing your current mortgage. Learn how you get a bad credit home refinance loan.
Bad credit and home refinance
Bank of America Refinance Question
Looking to refinance your Bank of America mortgage?
Bills.com has the advice you need to get the best mortgage if you are a Bank of America customer.
Bank of America Refinance Question
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