U.S. Bank
Founded in 1929 and headquartered in Minneapolis, Minnesota, U.S. Bank is the fifth-largest bank in the United States today.
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The Good
- Several Loan Options
- Competitive Closing Costs
- Mobile App
Several Loan Options
U.S. Bank offers a number of different loan options, including fixed rate mortgages, adjusted rate mortgages, FHA loans, VA loans, jumbo loans, and construction loans. The company also offers loans for investment and rental properties. Because there are such a wide variety of loans available, U.S. Bank borrowers have the opportunity to choose a loan that will work best for their needs.
Competitive Closing Costs
U.S. Bank charges closing costs of 2 to 5 percent of the total purchase price, which is competitive within the industry.
Mobile App
U.S. Bank provides its borrowers with a mobile app that is compatible with iOS, Android, and Windows devices. Customers can use this app to track and manage their home loan from their smartphone or tablet.
The Bad
- Interest Rates
- Lack of Information
Interest Rates
As of December 2016, for a borrower with excellent credit purchasing a $250,000 home with a $50,000 down payment and a 30-year fixed rate loan from U.S. Bank, the interest rate comes out to be 4.25 percent, which is slightly higher than industry average.
Lack of Information
U.S Bank has not disclosed minimum credit score requirements on its corporate website. Additionally, it is unclear if the company frequently communicates with its borrowers throughout the home loan process.
The Bottom Line
U.S. Bank offers several loan options, competitive closing costs, and a mobile app. However, U.S. Bank's interest rates are slightly higher than industry average and there are some important pieces of information not disclosed on the company's website.
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User Reviews
Star Rating
7 Reviews
Review Breakdown
Sentiment Criteria
I have had a mortgage with U.S. Bank in the past and they are easy to work with. They have quick and easy underwriting that is easy to understand. They gave me a great rate and I could refinance with little or no fees. Made the process easy and people were great to work with.
We have our current home loan with US bank they have great customer service with a great interest rate. I had other people call to see if we want to refinance but can never beat our interest rate :)
Great bank with wonderful service and a sterling reputation that has not been tarnished like some of the other banks out there. Home loans are one of their best products.
Great products, great service, convenient location
A lot of red tape and no trust with my own money.
Crooked, not honest or up front with you even if have a FIXED interest rate AND Will try to take advantage of YOU if you are single female and a Veteran
Customer service is the best. Will try to help in all transactions.
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