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U.S. Bank Mortgage Review

NerdWallet Lender Star Ratings assess objective attributes, including rates, fees and loan offers. To gauge borrowers' personal experiences with lenders, NerdWallet compiled customer satisfaction scores from J.D. Power and Zillow.

US Bank has a score of 823 out of 1,000 in the J.D. Initial Mortgage Origination Satisfaction Study. Power from 2021. The origination industry average is 851. (Mortgage origination covers the initial application until the close of day.)

American Bank has a score of 635 out of 1,000 in JD Power's 2022 US Mortgage Servicer Satisfaction Study. The industry average for service is 607. (The mortgage servicer handles the loan payments.)

US Bank has a customer rating of 4.98 out of 5 on Zillow, as of publication date. The result reflects more than 10,400 customer reviews.

Different types of mortgage loans from US Bank

5 out of 5 stars

US Bank offers fixed and adjustable rate mortgages, government-backed FHA and VA loans, mega loans and mortgages for low- to moderate-income borrowers.

Construction, home renovation and medical loans are also available.

HELOCs and US Home Equity Loans

The lender also offers home equity loans and a home equity line of credit, or HELOC. These second mortgages are one way for homeowners to gain access to existing home equity without refinancing or selling their homes. The money obtained with a second mortgage can be used for expenses such as home improvements, education expenses or debt consolidation. Bank of America also offers borrowers a fixed-rate option, allowing them to lock in their rate when they withdraw.

Easy mortgage application from US Bank

5 out of 5 stars

US Bank offers online pre-qualification and pre-approval, a fully digital loan application and a mobile application.

US Bank may be able to electronically verify your income and assets using information from outside sources such as other banks, tax preparers and payroll services.

If you prefer a face-to-face experience, the lender has over 3,000 branches with mortgage loan officers available.

US Bank Mortgage Rates and Fees

US Bank earns 3 out of 5 stars for average setup fee.

US Bank earns 3 out of 5 stars for average mortgage rates.

Borrowers should consider the balance between lender fees and mortgage rates. While this isn't always the case, making a prepayment can lower your mortgage interest rate. Some lenders will charge a higher upfront fee to lower the advertised interest rate and make it more attractive. Some lenders only charge higher upfront fees.

US Bank Mortgage Rate Transparency

US Bank provides mortgage rates for several loan products on its website, allowing borrowers to view rates and APRs by state. However, you'll need to contact a loan officer to get a personalized rate and learn more about details like fees and points.

» More: "Should I buy discount points?" Calculator

US Bank Mortgage Alternatives

Here are some of the comparable lenders we review that borrowers can consider. Wells Fargo is another national lender that offers construction loans, and like Bank of America, Bank of America also offers HELOC borrowers a fixed-rate option.

» MORE: Best HELOC Lenders

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NerdWallet's overall ratings for mortgage lenders are based on four main categories: variety of loan types (eg, purchase, refinance, fixed and adjustable), ease of application, rates and fees, and pricing transparency. Among the factors we consider when registering these categories are your online loan application and monitoring options, the level of detail about mortgage rates on lender websites and our analysis of lender rates and fees contained in the latest available Act data to disclose mortgages. These results generate ratings from 1 star (Poor) to 5 stars (Excellent).