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U.S. Bank vs. Bank of America mortgages

Both are banking giants, but how do U.S. Bank and Bank of America compare for mortgage lending?

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How do U.S. Bank and Bank of America Mortgage compare?

U.S. Bank logo
Bank of America Mortgage logo
  • Choose this lender if you want branches for in-person help
  • Watch out for poor customer service
  • A good option for existing customers who want to all of their accounts at one bank
  • Choose this lender for low interest rates
  • Watch out for bad customer reviews
  • A good option for borrowers without much credit history

Loans offered

  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA
  • Purchase
  • Refinance
  • Jumbo
  • Home Equity
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 620

States available

Available in all states

Available in all states

Pros

  • Wide range of home loans
  • Award-winning bank
  • Online prequalification
  • In-person accessibility
  • Lower than average interest rates
  • Alternative credit data accepted
  • Discounts for existing clients available

Cons

  • Fees
  • High volume of consumer complaints
  • Limited coverage in the Midwest
  • History of irresponsible mortgage lending

Customer reviews

The handful of reviews for U.S. Bank on TrustPilot are all over the place, from some calling it a "scam" to others giving the lender 5 stars, praising its "fantastic help." U.S. Bank is accredited with the BBB and gets a B+ rating from the organization. However, you'll find plenty of 1 star reviews from customers.
Bank of America has been accredited with the Better Business Bureau since 1949, and boasts an A+ rating for its operations and interaction. It falls short in the customer service department, though. As of August 2019, the BBB recorded 5,561 complaints, and Bank of America has earned a one-star rating from 280 customer reviews. It's a similar story on TrustPilot, where the bank has a 3.9/10 rating based on 61 reviews. While customers praised the savvy online experience and diversity of mortgage products, many were frustrated with the service they received. It's worth noting that these consumer reviews are for Bank of America as a whole — and not for its mortgages specifically.

Compare other mortgage lenders

Name Product Min. credit score State availability Loans offered
Axos Bank
620
Available in all states
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Explore a full suite of home loan options with this direct online lender.
Better.com
620
Not available in: HI, MA, MN, NV, NH, VT, VA
Purchase, Refinance, Jumbo, FHA
Online preapproval in minutes and no origination fees with this direct lender.
Credible
620
Not available in: AZ, HI, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo
Prequalify in minutes and then compare home loan options from several top online lenders.
LoanDepot
620
Available in all states
Conventional, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA
A nontraditional lender offering impartial guidance on a range of loans.
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Compare up to 4 providers

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