What's the spread between Wells Fargo's Three Step rate and their regular 30 year rate?

buddhaauthor
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WF won't quote a rate for the Three Step refi without actually taking an application. I'm deciding whether to lock or wait and it's frustrating not being able to get current rates. I figure if I knew the standard spread, I'd be able to figure out the Three Step rate by adding the spread to the standard 30 year rate with fees.

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April 30 2009 - Los Angeles

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Answers (2)

buddhaauthor
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Hey, thanks Rick. WF is frustratingly sparse with information on this type of loan. In fact, I've been given contradictory info on aspects of it (when redoing the loan is possible). So it's great to get some information from the outside world.
Franz

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April 30 2009

Rick G, "Equity Lender"
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there is no "standard" spread, it varies by loan size, state and type of request (cash out/rate&term) LTV and property type. You dont need to do a complete application to get a quote on the three step, but you will need to answer a few simple questions to get an accurate quote. The rates can change daily, as they do with conventional refi's.