U.S. Bank Home Equity Loan Review 2025
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Our Take
4.5
U.S. Bank makes it easy to shop for rates and apply online for a home equity loan. No closing costs are another perk. Its maximum term length is 30 years, longer than most. However, its 80% loan-to-value borrowing limit is on the low side. Home equity loans are available in most states except Delaware, South Carolina and Texas.
Pros
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Easy to customize a rate and apply online.
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Loan terms available up to 30 years.
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No closing costs.
Cons
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Maximum loan amount is 80% of home equity.
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Not available in Delaware, South Carolina or Texas.
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Unclear how long most loans take to close.
Full Review
💲U.S. Bank home equity loan rates
Home equity loan rates tend to move with the federal funds rate, which is set by the Federal Reserve. In addition to market factors, your home equity loan rate offers will be determined by your financial profile, including your credit score and income.
You can customize a home equity loan rate based on your location on the U.S. Bank website.
👍 Reasons to get a U.S. Bank home equity loan
If you prefer to manage your finances online, U.S. Bank makes it convenient to shop for home equity rates and apply for a loan online. Its mobile app has strong ratings, too.
U.S. Bank offers three term lengths for home equity loans: 10, 15 and 30 years. That’s a standard amount of term options, but 30 years is longer than what’s available at most lenders. There are no closing costs for home equity loans at U.S. Bank.
» MORE: Best home equity loan lenders
🤔 Reasons why U.S. Bank’s home equity loan gives us pause
U.S. Bank sets its maximum loan amount at 80% of your home’s value, which is lower than most lenders. We’d also prefer to see a little more product information. From the U.S. Bank website, it’s unclear if home equity loans are available for second homes or investment properties.
The lender also doesn’t mention how long home equity loans typically take to close. (The average time to close a home equity loan is 26 days, according to lenders surveyed by NerdWallet.)
Home equity loans from U.S. Bank are not available for properties located in Delaware, South Carolina or Texas.
📎 Ways to apply for a U.S. Bank home equity loan
How to Apply | Availability |
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | ✅ |
In person 🏦 | ✅ |
You can contact U.S. Bank customer service over the phone or at a branch. You can also schedule an appointment for an in-person, phone or virtual meeting.
🛒 Alternatives to a U.S. Bank home equity loan
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
If you want a lender with a convenient digital experience, SoFi also lets you customize home equity rates by location on its website. For another lender offering long term lengths, PrimeLending offers 30- and 40-year terms.
If you want to access more than 80% of your equity, consider CrossCountry. It offers a maximum combined loan-to-value ratio of 90%.
A home equity loan isn’t your only option
You can also explore products outside of home equity loans. Alternatives to home equity loans include a HELOC, which you can draw from as needed, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Borrow from your home’s equity
NerdWallet’s home equity loan star ratings are independently researched and developed by the editorial team based on the following factors: maximum combined loan-to-value ratio, closing costs, whether an appraisal is required, the number of repayment term options, length of the longest available term, rate transparency, average time to close, availability for second homes, number of ways to apply and number of customer service touchpoints. A recent regulatory action against a lender may affect its home equity loan star rating.
