Last Updated: 04/18/2025
SuperMoney User Recommendation Score +22
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US Bank Mortgage Refinance Review
Key Takeaways
- Only two mortgage programs offered. US Bank Mortgage Refinance refinances FHA VA conforming and conventional mortgages.
- Financing for single-family and multi-family properties. However, U.S. Bank does not offer financing for manufactured homes.
- Non-standard interest rates available. US Bank Mortgage Refinance only offers hybrid mortgages.
- Considers personal use and investment properties. Refinancing available for primary residences, secondary homes (e.g. vacation properties), and even investment homes such as rentals.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
US Bank Mortgage Refinance Pros & Cons
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US Bank Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via US Bank?
How long does US Bank take to refinance?
US Bank does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.Does US Bank charge a mortgage origination fee?
What mortgage programs does US Bank offer?
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- VA: 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.
What property usage types does US Bank allow?
- Primary home
- Secondary homes and vacation properties
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