finder.com’s rating: 3.4 / 5.0
Take a look at the mortgage options available through U.S. Bank
If you’re looking for a mortgage to buy a new home, build a home or invest in property, U.S. Bank offers several home loan options to suit the needs of different borrowers. Choose from fixed rate, adjustable rate, jumbo, FHA mortgages and more.
|Description||The 5th largest bank in the US with more than 3,000 branches across 26 states.|
|Loan types||Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA|
|Minimum down payment||3.5%|
|Origination fee||Depends on the type of loan.|
What makes U.S. Bank unique?
U.S. Bank offers a selection of mortgage options, including fixed-rate mortgages and adjustable-rate mortgages, as well as loans with lower interest rates specially designed for purchasers of high-value property.
Other loans from U.S. Bank include construction loans, mortgages for veterans and active duty military, and loans insured by the Federal Housing Administration. U.S. Bank also offers a handy online prequalification feature, allowing borrowers to prequalify for a loan within minutes.
Some highlights you can expect include:
- Mortgage points. Buy points to lower your interest rate. Doing so can save you money in the long run if you intend to live in your house for many years.
- Prequalification and preapproval. Begin with prequalification to find out if your debt-to-income ratio qualifies you for a home loan with U.S. Bank, and get an estimate of how much you can borrow. Once you find out if you qualify for a loan, you can begin the preapproval process. When you’re preapproved, you’ll be given a conditional commitment by the bank for a loan amount.
- Maximum loans. Jumbo loans offer amounts that exceed the conforming loan limit of $484,350.
Do I qualify for a loan with U.S. Bank?
Factors that U.S. Bank considers when determining whether a homebuyer qualifies for a mortgage include credit score, debt-to-income ratio, how well you’ve managed prior credit and length of credit history.
To find out if you might qualify for a home loan with U.S. Bank, go to their mortgage loan’s page, click on Prequalify and fill out your personal and financial information.
Compare to other lenders
Pros and cons
- Choice. U.S. Bank offers a wide range of home loans to suit the needs of many different borrowers.
- Trusted bank. U.S. Bank is the fifth largest commercial bank in the country and has won several awards for customer satisfaction.
- Online prequalification. You can quickly and easily prequalify for a U.S. Bank mortgage online without affecting your credit score.
- Fees. Be aware of all the fees that apply to your U.S. Bank mortgage before deciding if it’s the right loan for you.
How do I apply?
If you’ve weighed your options and you think a U.S. Bank mortgage could be right for you, apply by one of the following methods:
- Find a branch to meet with a mortgage specialist in person.
- Call U.S. Bank to discuss your borrowing needs.
- Request a call back on the U.S. Bank website.
- Fill out an online prequalification form by providing your name, address, annual household income and monthly household debt expenses.
To prequalify for a mortgage with U.S. Bank, you must:
- Be at least 18 years old
- Be a legal resident of the United States
- Know your annual household income
- Know your annual household debt
- Residential history. You must supply your residential addresses for the past two years.
- Employment and income history. Provide pay stubs from the past 30 days and W-2 or I-9 tax forms for the past two years.
- Personal asset details. Bank account statements, other asset statements and details of your real estate holdings will be required.
- Personal debt details. Details of all debts such as auto loans, student loans and credit card debt will also need to be supplied.
I got the loan. Now what?
- Contact customer service at 800-365-7772 with any questions.
- Sign up for an online account, where you can pay your monthly mortgage payment and get up-to-date info on your loan.
The fifth largest commercial bank in the United States, U.S. Bank has a wide range of home loan products. But if you don’t find one that best suits your needs, compare your options before committing to a lender.
Frequently asked questions
Home loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews and borrower experience.