Wells fargo mortgage additional principal payment online

Balloon Loans

Your home loan was originated with a balloon feature. This means that you only make payments until your loan reaches its maturity date, which is typically well before the loan reaches a zero balance. When your loan reaches the balloon maturity date, you’ll be required to pay the remaining balance of your mortgage in a one-time, lump-sum payment, also known as a balloon payment.

You should starting planning at least 2 years before the maturity date. Some of the options for paying off the balloon take longer than others to complete, and you’ll want to leave yourself enough time to get the paperwork done.

No — extensions aren’t available at this time. However, if you’d like to refinance your loan or if you’re experiencing a financial hardship, we may be able to help. For more information, call 1-877-898-4167.

You may have options even if you have little or no equity in the home. To learn more, call a home loan specialist at 1-877-898-4167.

There are different reasons you may have a lump-sum payment due:

• If your loan was originally established with a balloon payment, your loan payments were not calculated to pay your account in full by the time your loan’s maturity date arrives.  This types of payment is known as “partially amortized payments.” When your loan reaches the final maturity date with partially amortized payments, you will not have paid off your entire outstanding principal balance due. That’s why a lump-sum balloon payment is due on or before the maturity date.
• Some contracts calculate interest based on when the payment was received, and variations in when you made your payments may impact the amount that is due at the end.  Additionally, other balances such as taxes and insurance, may have been paid on your behalf and any of these amounts outstanding are also due when the full balance is due, the date your balance is due may be your maturity date or when you pay off your principal balance.
  
• If your loan was modified, the modification may have deferred or set aside a portion of the balance to make your monthly payments affordable. The set aside amount is due when the full balance is due.

You may have other options, but it’s important to reach out to us and discuss your situation as soon as possible so that you don’t default on your loan, which could negatively affect your credit rating or even put your home at risk.

Call us at 1-877-898-4167 as soon as you realize you’re having problems and let us help you understand your options.

Loan and payment options

For a payoff quote on a Mortgage Loan, call us at 1-800-357-6675.
For a payoff quote on a Home Equity Loan or Line of Credit, call us at 1-877-898-4167.

You may be able to refinance to a new home equity line of credit and gain access to available home equity with a 10-year draw period to use when you need it. Our home equity lines of credit also offer fixed-rate advance options. You may apply to refinance a new first mortgage with Wells Fargo.

Note:

• Refinancing may not be right for your situation. Talk with a home loan specialist to learn more.
• Refinancing to a new first mortgage that includes a home equity line of credit may carry additional costs.
• Different options may help you lower your interest rate, lower your monthly payment, or pay off your outstanding balance.
• If you’re experiencing financial challenges, you may qualify for a modification with new terms and a possible interest rate reduction. Talk with a home loan specialist at 1-877-898-4167 for more information.

Apply for a new mortgage

If you're ready to apply for a new mortgage, we're here to help. Apply now

Apply for a home equity line of credit

We can help you decide if a home equity line of credit is right for you.  Learn more

You have many options for making payments.

Set up automatic payments

You decide which savings or checking account you would like the money to come from each month. There is no charge for enrollment, and you can easily change or cancel the automatic payments online.

To set up automatic payments, sign on, select your auto loan from Account Summary, and then select Enroll in Autopay. You can also call us at 1-800-289-8004 or download the automatic loan payments authorization (PDF), complete the form, and return by mail or fax.

If you would like to change or cancel your automatic payments, please allow at least 3 business days before the automatic payment is scheduled to withdraw.

Pay online

Sign on and select your auto loan from Account Summary. You can make a payment immediately or schedule a payment up to 30 days in advance. Not enrolled in Wells Fargo Online®? Enroll now.

Pay by phone

Call 1-800-289-8004, 24 hours a day, 7 days a week to use our automated system.

Pay by mail

Make your check or money order payable to Wells Fargo Auto. Be sure to fill in all sections of a money order. (Do not send cash.) Write your account number on your check or money order.

Mail your payment to:

Wells Fargo Auto 
PO Box 17900
Denver, CO 80217-0900

Pay in person

You can make payments at any Wells Fargo banking location at no charge, and a Wells Fargo account is not required.

Other ways to pay

• MoneyGram® – Include your 10-digit Wells Fargo Auto account number and Receive Code 1815. Please note: third-party fees may apply. 
• Western Union® – Include your 10-digit Wells Fargo Auto account number, Western Union City Code CATX, and State Code TX. Please note: third-party fees may apply.

Additional principal payments

When you pay more than the total amount due, on or before the due date, the additional amount will pay down your principal balance and will be applied to your next payment due. You can pay your account up to three months in advance. Once the account is paid ahead three months, additional funds go toward principal only.

If you'd like to have additional funds applied to principal only, here are three ways to pay:

• Automatic payments – Sign on and select your auto loan from Account Summary. Select Enroll in Autopay, and include the additional amount to be applied to principal.
• Mail – Note the additional principal amount using the payment coupon attached to your statement.
• Branch – Ask a Wells Fargo team member to apply the additional payment amount to the principal balance.

Note: Principal-only payments won’t change the amount of your next payment or the due date. If you have incurred any late fees, the principal payment will be applied after any past due amounts and charges.

If you have other questions, please see our auto loan FAQs.

Set up automatic payments

You decide which savings or checking account you would like the money to come from each month. There is no charge for enrollment, and you can easily change or cancel the automatic payments online.

To set up automatic payments, download and complete the automatic payment form (PDF), and return by mail.

Pay online

Sign on to your account to make a payment. Not enrolled in Wells Fargo Online®? Enroll now.

Pay by phone

Automated payment service is available 24 hours a day, 7 days a week.

Pay by mail

Make your check or money order payable to Wells Fargo Auto. Be sure to fill in all sections of a money order. (Do not send cash.) Write your account number on your check or money order. Mail your payment to:

Wells Fargo Auto
PO Box 51168
Los Angeles, CA 90051-5468

Pay in person

You can make payments at any Wells Fargo banking location at no charge, and a Wells Fargo account is not required.

Other ways to pay

• Pay by MoneyGram® – Include your 17-digit Wells Fargo Auto account number and Receive Code 2459. The company name is Wells Fargo Auto. Please note: third-party fees may apply.
• Pay by Western Union® – Include your 17-digit Wells Fargo Auto account number, Western Union City Code WF Auto Finance, and State Code PA. Please note: third-party fees may apply.

Additional principal payments

When you pay more than the total amount due, on or before the due date, the additional amount will pay down your principal balance and will be applied to your next payment due. You can pay your account up to three months in advance. Once the account is paid ahead three months, additional funds go toward principal only.

If you’d like to have additional funds applied to principal only, here are four ways to pay:

• Automatic payments – Download and complete the automatic payment form (PDF). Include the additional amount to be applied to principal, and return the form by mail.
• Online – Sign on to your account to make a payment, and select the principal payment option.
• Mail – Note the additional principal amount using the payment coupon attached to your statement.
• Branch – Ask a Wells Fargo team member to apply the additional payment amount to the principal balance.

Note: Principal-only payments won’t change the amount of your next payment or the due date. If you have incurred any late fees, the principal payment will be applied after any past due amounts and charges.

If you have other questions, please see our auto loan FAQs.

How do I pay extra principal Wells Fargo?

How do I pay extra principal on my mortgage?

Does Wells Fargo allow principal only payments?

Do extra payments automatically go to principal?