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  US Bank Home Equity Loans

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US Bank Home Equity Loans
in Home Equity Loans from U.S. Bank · NMLS ID #402761
Claimed

US Bank Home Equity Loans

Claimed
in Home Equity Loans from U.S. Bank · NMLS ID #402761
SuperMoney Net Recommendation Score +20  

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +20, equating to 3.4 on a 5 point rating scale.

+20

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating Mostly recommended
APR  (Fixed APR) 3.8% - 18%
(Verified 08/04/2023)
Loan Term (Years) 10 - 15 years
Loan Amount $50,000 - $100,000
Maximum LTV 90%
Number of Reviews 5

US Bank Home Equity Loans Review

US Bank Home Equity Loans is offered by U.S. Bank (NMLS #402761), a bank founded in 1863 and based in Minneapolis, MN. US Bank Home Equity Loans are available in 50 states (and Washington, DC).

US Bank Home Equity Loans FAQ

How much can you borrow with a US Bank Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

US Bank Home Equity Loans allows borrowers to apply for home equity loans of up to $100,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of US Bank Home Equity Loans

This lender's maximum loan to value rate is 90%. That means the total debt secured by the property cannot exceed 90% 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 good credit, you may qualify for a line of credit of up to $70k.

What home equity loan rates does US Bank Home Equity Loans offer?

US Bank Home Equity Loans offers home equity loans with a fixed APR that ranges from 3.8% up to 18%.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What is the estimated funding time for a home loan via US Bank Home Equity Loans?

US Bank Home Equity Loans will typically fund home equity loans within 3 and 7 days of approval.

What fees does US Bank Home Equity Loans charge for a home equity loan?

US Bank Home Equity Loans may charge a loan origination fee

What types of property can you use as security for a home equity loan with US Bank Home Equity Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. US Bank Home Equity Loans will consider loans secured by the following property types:

  • Primary home.
  • Secondary homes and vacation properties.
  • Investment properties and house flipping projects.

Is U.S. Bank a legit company?

U.S. Bank was founded in 1863, it is a well-established company with approximately 74,000 employees that has been in business for 160 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.

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Contact

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

Other Services by U.S. Bank

Availability

  Available in 50 states and Washington, D.C.
  • 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

Feature Breakdown

Origination Fee (%) Starting at 0%
Credit Score Range 680 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
Maximum LTV 90%
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of Income
  • Proof of Identity
  • Proof of Residence
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
Funding Time Range 3 - 7 days
APR (Fixed APR) 3.8% - 18%
(Verified 08/04/2023)
APR Type Fixed APR
Loan Amount $50,000 - $100,000
Loan Term 10 - 15 years
Interest Rate Types Offered Fixed-Rate Mortgage

US Bank Home Equity Loans Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly recommended by SuperMoney users with a score of +20, equating to 3.4 on a 5 point rating scale.

+20

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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