U.S. Bank Mortgage Review 2026

U.S. Bank overview

U.S. Bank has been in business since 1863 and is one of the largest lenders in the country. Today, it operates more than 2,100 branches in 26 states. Like many lenders that are also national banks, it offers a wide variety of purchase and refinance loans.

Pros and cons of U.S. Bank

How Bankrate scored U.S. Bank

Affordability: 4.2 stars

U.S. Bank earns high marks for affordability thanks to its down payment assistance programs and customer credits.

• Interest rates: U.S. Bank’s reported mortgage rates are similar to Bankrate’s national average at the time of this writing. Keep in mind that the bank’s displayed rates for conventional loans reflect a 25 percent down payment, which is more than many buyers can afford.
• Down payment: U.S. Bank offers low- and no-down-payment mortgages, including FHA and VA loans. Additionally, the bank offers low-income buyers the American Dream  and Access Home programs, which provide lender-paid mortgage insurance and assistance of up to $12,500. 
• Closing costs: Closing costs vary, but certain customers — those with a U.S. Bank Smartly Checking account or a Gold or Platinum Checking Package — are eligible for a credit worth up to $1,000 on their closing costs.

Availability: 5 stars

U.S. Bank’s loan options and branch locations landed it a perfect score for availability. 

• Home loans offered: U.S. Bank offers the most common mortgage programs: conventional, FHA, VA and jumbo loans. In addition, the bank also offers new construction and investment property loans. For conventional loan borrowers, the bank offers 10- and 20-year repayment terms, along with the standard 15- and 30-year options.
• Footprint: The bank is licensed to lend in all 50 states.
• Where to find: In addition to its online application portal, you can schedule an appointment to talk with a loan officer at over 2,100 branch locations.

Borrower experience: 4.3 stars

There are many ways to get in touch with U.S. Bank, and you can easily view rates on its website — but not fees. 

• Application and preapproval process: You can get prequalified on U.S. Bank’s website in about five minutes, but if you’re serious about house-hunting, you’ll need to get a preapproval. For that, you’ll need to start an official application and upload documents to the bank’s loan portal.
• Transparency: Unlike some of its competitors, U.S. Bank displays rates online so you can estimate your borrowing costs. However, it’s tough to get an idea of typical fees.
• Customer service: You can call 833-672-1187 to connect with a loan officer. If you live near a branch, you can easily schedule an appointment online. 

U.S. Bank reputation

U.S. Bank scored nearly 20 points below the industry average in the 2024 J.D. Power mortgage origination satisfaction study. However, it also scored more than 40 points above the industry average in the 2025 mortgage servicing satisfaction study. The company holds accreditation from the Better Business Bureau and has an A rating from the organization.