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Last Updated: 04/18/2025

US Bank HELOC

from U.S. Bank

Last Updated: 04/18/2025

Strongly recommended10 total votes

9 users recommend

1 users don't recommend

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Highlights

Community Rating

Strongly recommended

Credit Score Range

650 - 850

Amount Range

$15,000 - $750,000

Maximum LTV

85%

Minimum Draw

N/A

Loan Term (Years)

10 - 20

Number of Reviews

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 are available in 50 states and Washington, DC.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 650 may qualify for US Bank HELOC.
Only primary residences considered. US Bank HELOC does not offer financing for vacation homes or investment properties.
Fast process. In some cases you can close on your home loan within 3 business days.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
High maximum LTV ratio. US Bank HELOC has a maximum loan to value ratio of 85%.

US Bank HELOC Pros & Cons

Pros

Cons

Considers applicants with fair credit.
Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.

US Bank HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $750,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 85%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $65k in credit.

What are the terms for US Bank HELOC?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

US Bank HELOC offers home equity loans with terms ranging from 10 to 20 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What is the estimated funding time for a HELOC?

The HELOC through U.S. Bank can fund in as few as 3 days after approval.

What fees does US Bank charge for a HELOC?

US Bank HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with US Bank?

U.S. Bank may consider HELOCs secured by the following property types:

Primary residences

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message from US Bank

Home equity line of credit is useful if you’re planning a major project with multiple purchases, a HELOC offers ongoing access to funds at rates lower than those of credit cards.

With HELOCs you can borrow funds over time as needed. They also offer flexible repayment options, including interest-only payments for those who qualify. You can draw on your HELOC by using convenience checks, transferring money to your U.S. Bank checking account or by visiting a branch or ATM. You can also use your Visa® Access Card anywhere Visa® is accepted.

Contact

Headquarters

800 Nicollet Mall

Minneapolis, MN 55402

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:30AM - 5:30PM

Tuesday

8:30AM - 5:30PM

Wednesday

8:30AM - 5:30PM

Thursday

8:30AM - 5:30PM

Friday

8:30AM - 5:30PM

Saturday

Closed

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SuperMoney Net Recommendation Score

SuperMoney users strongly recommend this product, giving it a user recommendation score of +80, or 4.6 on a 5-point rating scale.

+80

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

US Bank HELOC Community Reviews

Would you recommend US Bank HELOC to your friends?

Youram J.

May 14, 2021

May or may not recommend

I'm so much impressed by Us bank HELOC, whenever I ask for help they instantly approachable!! There is no doubt that this bank helps me a lot, I can easily make online payments. You can transfer unlimited money, what else do you need. I Will surely recommend it to my whole circle.

Anonymous

Mar 2, 2021

May or may not recommend

i have had an account with US Bank for over ten years and I am very happy with them, always professional and available anytime I have ever had an issues with a questionable charge they have always taken care of it quickly and professionally. I am very happy with their services. They also have investment options and reasonable rates. I have actually recommended them to my family and friends

Chijioke O.

Jan 14, 2021

May or may not recommend

You guys very reliable and awesome. Customer service is great. Online banking tools are fabulous. Whenever I had to call I got answer right away …

Samuel T.

Jan 14, 2021

May or may not recommend

Due to the outbreak of the COVID-19 pandemic, I lost my daily job in Atlanta. Unfortunately, I couldn't get a job to work remotely. However, US Bank HELOC Home Equity Lines of Credit came to my rescue. I was able to borrow some certain amount of funds to survival during the total lockdown. This fund comes with low interest rate and I was offered enough time to pay up. I ...Show More

Micheal O.

Dec 24, 2020

May or may not recommend

The US Bank HELOC is a very safe and secure bank. My home now has been able to secure good credit all thanks to HELOC. The ease of the process, the way they talked me through it professionally made it so easy! I would gladly recommend HELOC to anyone who is having some issues financially.

Gaby R.

Nov 11, 2020

May or may not recommend

With HELOC, I was honestly amazed at how quick and easy the process is. I am always anxious when it comes to opening lines of credit or dealing with banks. But HELOC made everything easy enough that I could do it on my own. And from when I started the process until it was done, it took roughly one week. They also have a pretty long draw period so I ...Show More

Charles R.

Oct 22, 2020

May or may not recommend

I was impressed by the service rendered by the US Bank; I never knew my home could secure as much credit as it did. Receiving the credit was also made easy, and there was no limit to the amount I received with my credit card, which happens to be what I love most about the service.

Dave K.

Oct 21, 2020

May or may not recommend

As rare as it is to find good customer service from any bank, US Bank has been very good about explaining how to utilize our HELOC. There are things which can and cannot be done with the funds and they made it easy to determine that. Their statements are very easy to comprehend, and their reminders about minimum payments and length of term each time are also very helpful.

Bilu C.

Aug 21, 2019

May or may not recommend

The customer service of U.S Bank Home Equity Loan is horrible!!! I have a 0 balanced home equity loan for years. When I am selling the house and called for closing the account and a payoff letter, my nightmare started. The first lady received the call promised me that she will send me a payoff letter, but the letter never arrive . I went to a ...Show More

Pamela Y.

Jul 3, 2019

May or may not recommend

USA bank is a safe and secure.bank I can reassure anyone that this bank is a bank you need to make a secret account against financial abuse There are a few banks thAt help in this tragedy they are helpful and can communicate openly Using the internet and being silent is not what a victim needs . There is help! Count on USA banks, they are very supportive in ...Show More

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