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Home Equity Lines of Credit
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Last Updated: 04/18/2025

US Bank HELOC

in Home Equity Lines of Credit from U.S. Bank

Last Updated: 04/18/2025

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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

10
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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

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.

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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
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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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