Home Credit score 2022 US Bank Mortgage Review – Forbes Advisor

2022 US Bank Mortgage Review – Forbes Advisor

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US Bank offers home loans in all 50 states plus Washington, DC and has access to over 2,700 branches, which might be helpful if you prefer to apply for a mortgage in person.

The bank also publishes its mortgage rates daily on its website. However, keep in mind that these rates assume a credit score of at least 740, plus a minimum down payment of 25% for a conventional loan or 3.5% for an FHA loan. Your rate will also vary depending on your location.

US Bank offers the following mortgage options:

In addition to fixed rate loansUS Bank offers adjustable rate mortgages (ARM) with options of five, seven and ten years. Jumbo ARMs are also available.

US Bank also offers Smart Refinance Loans, which are no closing cost loans that allow you to tap into the equity in your home.

Minimum loan

US Bank does not publicly disclose a minimum loan amount for its mortgages. If you are interested in a small mortgage loanyou will need to contact the lender to see if this is a good option for you.

Maximum Loan

With a US Bank jumbo loan, you can borrow up to $1.25 million. Keep in mind that your maximum loan amount will depend on the type of loan you choose as well as your qualifications.

loan service

Unlike many lenders, US Bank manages the loans it issues. This means that you will make your payments to US Bank and you can direct your questions to the lender.

Customer service

Current and potential US Bank borrowers can contact customer service by phone or by visiting a branch. You can also book an appointment with a specialist, which can be virtual, in person, or over the phone. Appointments or co-browse sessions — where you share your screen with a US Bank specialist — can also be arranged through the US Bank mobile app.