Last Updated: 04/18/2025
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Highlights
Community Rating
Mostly recommended
Credit Score Range
680 - 850
Amount Range
$50,000 - $99,999
Maximum LTV
90%
Loan Term (Years)
10 - 30
Number of Reviews
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 are available in 50 states and Washington, DC.
Key Takeaways
- Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental 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.
- Origination fees start at 0%. Origination fees are deducted from the loan amount, so take them into account when deciding how much you need to borrow.
- High maximum LTV ratio. US Bank Home Equity Loans has a maximum loan to value ratio of 90%.
- Good credit required. You will need a credit score of at least 680 to qualify.
US Bank Home Equity Loans Pros & Cons
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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 $99,999. 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.
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 to 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 that has been in business for 163 years. US Bank Home Equity Loans is mostly recommended by SuperMoney community users.
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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