U.S. Bank: 2026 Home Equity Review

How Bankrate scored U.S. Bank

Affordability: 4 stars

U.S. Bank scores 4 out of 5 stars for affordability because of the lack of closing costs and competitive loan pricing.

• APR: U.S Bank’s rates are slightly below the Bankrate average at the time of writing. 
• Fees: U.S. Bank doesn't charge closing costs for its HELOCs or home equity loans, but unless you have a Platinum Checking Page with the bank, you’ll have to pay a $75 annual fee after the first year. You may also be charged an early closure fee of up to $500 if you pay off and close the HELOC within 30 months of opening.
• Discounts: You can qualify for a 0.50% rate deduction if you have your monthly payments automatically deducted from a U.S. bank checking or savings account.

Availability: 4.6 stars

U.S. Bank scores 4.6 out of 5 for availability because of its wide reach, accessible credit score requirements and the ability for borrowers to lock the rate on all or part of their HELOC. 

• Licensing: U.S. Bank is licensed in 47 states, excluding Texas, South Carolina and Delaware. Home equity loans are also not available for properties held in a trust in Hawaii, Louisiana, New York, Oklahoma and Rhode Island.
• Credit score: To qualify for a U.S. Bank HELOC or home equity loan, you need at least a score of 660, which is slightly less than some lenders require.
• Loan minimum: The minimum amount you can borrow with U.S. Bank’s HELOCs and home equity loans is $25,000, which is higher than the minimum at some other home equity lenders.
• Loan products: U.S. Bank offers both home equity loans and HELOCs, along with the ability to fix the rate on all or part of the line, which not all lenders offer.     

Borrower experience: 3.8 stars

U.S. Bank scores 3.8 for borrower experience due to some caveats around its rate transparency and the availability of some contact options. 

• Rate transparency: U.S. Bank advertises rates on its website. However, the advertised rates are for preferred borrowers: those with a credit score of 730 or higher, a loan-to-value ratio of 60% and a U.S. Bank checking or savings account. 
• Customer service: You can schedule a time to talk with a banker virtually or in person. You can also reach an agent on the phone by calling 866-689-8123. 
• Convenience: U.S. Bank has more than 2,000 branches nationwide. However, its physical locations are available in only 26 states, a minus for borrowers who prefer face-to-face support. The bank offers flexible options for accessing your HELOC funds, including convenience checks, transferring money to your U.S. Bank checking account or withdrawing cash from an ATM.

U.S. Bank reputation

As of this writing, U.S. Bank is accredited by the Better Business Bureau and gets an A+ rating. However, customer feedback is mixed. The bank’s rating is just over one star, with customers complaining about fees and difficulty reaching customer service representatives. Out of more than 1,300 reviews, U.S. Bank gets a similar rating of more than one star on Trustpilot. Most of the complaints centered around poor customer service. The lender also scores below the industry average in J.D. Power’s latest customer satisfaction study for mortgage origination.  

What Bankrate users consumers say about U.S. Bank

The vast majority of customers who applied for home equity products with U.S. Bank told Bankrate that they were pleased with the experience. In addition to highlighting the ease of the online application, most reported positive interactions with loan officers, too, especially their ability to “literally walk me through the process, so that I did not have to …stress over the situation.” “They also weren't pushy at all,” another says. A few did mention that the bank seemed “a little long with service times.”