Wells Fargo now offers 3% down payment mortgages

Wells Fargo is answering calls in the industry to expand the credit box. Not only did the bank announce it now offers a down payment of as little as 3% for fixed-rate mortgages, but it is accepting mortgages with a FICO score as low as 620. Here's how Greg Gwizdz, executive vice president of national retail sales with Wells Fargo, said the bank is making this program work.