U.S. Bank Logo
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6.3

Overall Score

LAST UPDATED: November 23rd, 2022

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.

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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.

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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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Star Rating

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4.2

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31 Reviews

Review Breakdown

5 grade

52%

4 grade

32%

3 grade

3%

2 grade

6%

1 grade

6%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Review Source

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Shana Oberg Albuquerque, NM

Overall I find U.S. Bank to be a great company to bank with. I especially appreciate their tenacity in stopping fraudulent attempts to enter your account in there tracks before a withdrawal occurs. I like having my mortgage with the same company that I bank with because the transactions are seamless and transparent. U.S. Bank's app is easy to use. I do not like their lobbies being closed during this time.

2 years ago

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Unbiased Consumer Cantonment, FL

I’ve been with U S Bank for several years and will honestly give them a 5 star rating. I had major financial difficulties a few years ago and found them to be professional yet compassionate, while not treating me like a number. Their service is always prompt and their feedback is very much appreciated.

2 years ago

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Reese Pleasant Grove, UT

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.

4 years ago

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Cynthia Landing Forest City, IL

I currently have a mortgage loan with this company and I’m proud to say I have low interest rates and they offer so many other incentives from home loans to financial services

2 years ago

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Fernando Delgado Tempe, AZ

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 :)

5 years ago

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Joshua Richmond Lexington, KY

Military discounts and super supportive customer support. Always able to take down any errors without a fuss or is able to transfer me quickly to the department I need.

1 year ago

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David Swenson Denver, CO

I have been working with US Bank for over a decade. They have no hidden fees and excellent customer service. They offer clear, simple, and straightforward financing options.

2 years ago Edited September 21, 2021

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Andrea Thomas Richland, WA

We have loved having our mortgage here as we have automatic payments and escrow. It’s made life so easy! With our first home purchase, easy is hard to come by!

2 years ago

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Brian Meekhof Stanwood, WA

I have been with US Bank for years and have never had any problems, customer service is great and always respectful when answering all questions

1 year ago

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Paul E Denny Jeffersonville, IN

The company is easy to work with and has a good website format. The rates were the best I could find with very low closing costs to refinance.

2 years ago Edited September 14, 2021

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Lakota Miller Allen, TX

I appreciate the option to be able to put extra towards my principle instead of being stuck to paying interest first

2 years ago

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Timothy Nikolaus Tempe, AZ

Customer service is the best. Will try to help in all transactions.

6 years ago

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Noa Ranoa Encinitas, CA

Great rate. Great service. I love the card! I got what i wanted! Yes... stoked!

2 years ago

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Judy Newell Johnstown, OH

Helpful in making the process of purchase a home easy to understand and process.

2 years ago

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melrose1989 Gardena, CA

Extremely friendly, helpful staff. Never had a bad experience. And very willing to work with you!

2 years ago

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Thomas Lake Saint Louis, MO

Great products, great service, convenient location

6 years ago