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  US Bank Home Mortgage

US Bank Home Mortgage

in Home Purchase Mortgages from US Bank · NMLS ID #402761

Unaffiliated

US Bank Home Mortgage

Unaffiliated

in Home Purchase Mortgages from US Bank · NMLS ID #402761

SuperMoney Net Recommendation Score -14

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -14, equating to 2.7 on a 5 point rating scale.

-14

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.

Mostly not recommended

2 users recommend
2 users are unsure
3 users don't recommend
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Highlights
Community Rating Mostly not recommended
Loan Amount Up to $2,000,000
Loan Term (Years) 10 - 30 years
Credit Score Range 600 - 850
Number of Reviews 7

US Bank Home Mortgage Review

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

Key Takeaways
  • 3 different mortgage programs offered. US Bank Home Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Standard interest rates types. US Bank Home Mortgage offers adjustable-rate mortgages, and fixed-rate mortgages.
  • Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, US Bank Home Mortgage does offer financing for primary and secondary homes (e.g. vacation properties).
  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for US Bank Home Mortgage.
US Bank Home Mortgage Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Available in all 50 states.
  • Charges an origination fee.
US Bank mortgage FAQ

How much can you borrow via US Bank?

US Bank mortgage allows borrowers to apply for loan amounts of up to $2,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with US Bank mortgage?

US Bank mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does US Bank offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

US Bank mortgage offers home loans with APRs starting at 2.168% .

Does US Bank mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, US Bank mortgage may charge a loan origination fee.

Do they charge prepayment fees?

No, there are prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Besides conventional mortgages, US Bank mortgage offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does US Bank mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. US Bank mortgage allows the following property usage types: 

  • Primary home
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for this business card is (800) 872-2657.

What is the support contact email?

The support contact email for this business credit card is customer.support@usbank.com.

How do people rate the customer service and user experience?

Overall, this business credit card is mostly not recommended based on community reviews that rate customer service and user experience.

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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 US Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee
Initial Processing Fee $1
Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
Intended Use
  • Primary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Individual Applications
Minimum Age 18
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Residence
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
Investment
Primary Residence
APR Starting at 2.168%
Loan Amount Up to $2,000,000
Loan Term 10 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA
  • Jumbo
Terms 3, 5, 10, 15, 20 & 30 year

US Bank Home Mortgage Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of -14, equating to 2.7 on a 5 point rating scale.

-14

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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