How do U.S. Bank and Bank of America compare?
- 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
Neither of these seems the right fit?
- Wide range of home loans
- Award-winning bank
- Online prequalification
- Low interest rates
- Alternative credit data
- Discounts for existing clients
- High volume of consumer complaints
- Limited coverage in the Midwest
- History of irresponsible mortgage lending
- Less personalized approach
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 (BBB) since 1949, boasting an A+ rating for its operations after closing almost 5,500 customer complaints over the last three years.
However, it falls short in the customer service department, earning slightly over a one-star rating from 405 customer reviews. It’s a similar story on Trustpilot, where the bank has a 1.4 rating based on 438 reviews as of December 2020. 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.
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