U.S. Bank offers home loans in all 50 states along with Washington, D.C. and provides access to over 2,700 branch locations, which could be helpful if you prefer to apply for a mortgage in person.
The bank also publishes its mortgage rates daily on its website. However, keep in mind that these rates assume a credit score of at least 740, plus a minimum down payment of 25% for a conventional loan or 3.5% for an FHA loan. Your rate will also vary depending on your location.
U.S Bank offers the following mortgage options:
In addition to fixed-rate loans, U.S. Bank offers conventional adjustable-rate mortgages (ARMs) with five-, seven- and 10-year options. Jumbo ARMs are available, too.
U.S. Bank also provides Smart Refinance loans, which are no-closing-cost loans that allow you to tap into your home’s equity.
U.S. Bank doesn’t publicly disclose a minimum loan amount for its mortgages. If you’re interested in a small mortgage loan, you’ll need to contact the lender to see if it’s a good option for you.
With a U.S. Bank jumbo loan, you can borrow up to $1.25 million. Keep in mind that your loan maximum will depend on the loan type you choose as well as your qualifications.
Unlike many lenders, U.S. Bank services the loans it originates. This means you’ll make your payments to U.S. Bank and can direct any questions to the lender.
Current and prospective U.S. Bank borrowers can contact customer support via phone or by visiting a branch location. You can also set up an appointment with a specialist, which can be virtual, in person or via phone. Appointments or co-browsing sessions—where you share your screen with a U.S. Bank specialist—can be arranged through U.S. Bank’s mobile app, too.