US Bank HELOC
Would you recommend US Bank HELOC to your friends?
| Community Rating | Strongly recommended |
| Loan Amount | $15,000 - $750,000 |
| Maximum LTV | 85% |
| APR (Variable APR) |
3.25% - 18% (Verified 08/04/2023) |
| Number of Reviews | 10 |
US Bank HELOC Review
US Bank HELOC is offered by U.S. Bank (NMLS #402761), a bank founded in 1863 and based in Minneapolis, MN. US Bank HELOC are available in 50 states (and Washington, DC).
US Bank HELOC FAQ
How much can you borrow with a HELOC?
HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.
US Bank HELOC allows borrowers to apply for lines of credit of up to $750,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
This lender's maximum loan to value rate is 85% for qualified borrowers. That means the total debt secured by the property cannot exceed 85% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $65k.
What are the terms for a US Bank HELOC?
HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan.
US Bank HELOC offers home equity loans with a draw period of up to 10 years and a repayment period of 20 years.
Is there a minimum draw requirement?
No, there isn't a minimum draw requirement.
What range of rates does US Bank HELOC offer?
US Bank HELOC offers APRs as low as 3.25% and up to 18%.
Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.
Rate is quoted with autopay discount*.What is the estimated funding time for a home loan via US Bank HELOC?
US Bank HELOC will typically fund home equity lines of credit in as few as 3 days of approval.
What fees does US Bank HELOC charge for a HELOC?
US Bank HELOC may charge a loan origination fee . There is also an annual fee of $0.
What types of property can you use as security for a HELOC with US Bank HELOC?
Lenders often have restrictions on the type of properties they will accept as security for a HELOC. US Bank HELOC will consider lines of credit secured by the following property types:
- Primary homes.
Message From US Bank HELOC
Contact
- Headquarters
-
800 Nicollet Mall
Minneapolis, MN 55402 USA - (800) 872-2657
- Visit Site
- Email Support
Other Services by U.S. Bank
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington, DC
- West Virginia
- Wisconsin
- Wyoming
US Bank HELOC Community Reviews
Would you recommend US Bank HELOC to your friends?
Other Home Equity Lines of Credit
- Bayway Mortgage Group HELOC
- Exchange Bank and Trust Home Equity Lines of Credit
- First Bank And Trust Of New Orleans HELOC
- First Horizon Bank Home Equity Line Of Credit
- First Mid Bank & Trust Home Equity Line of Credit
- FirstBank Home Equity Line of Credit
- New American Funding HELOC
- PNC Home Equity Line of Credit
- Redwood Capital Bank Home Equity Lines
- RenoFi Renovation HELOC
- Spring EQ Home Equity Lines of Credit
- Truist Bank HELOC
