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Competitive interest rates, no closing costs, low monthly payments and tax deductibility make U.S. Bank Home Equity products the smart choice for financing:
- Home improvements
- Debt consolidation
- Vehicle purchases
- Education expenses
- Unexpected expenses
U.S. Bank now offers more convenient ways to close your new Home Equity line or loan. Apply online and close at one of over 2,500 branches or at a location of your choice, such as your personal residence or your local coffee shop.
- Combines the flexibility of a line of credit with the fixed interest rate option and repayment terms of a home equity loan.
- Provides the ability to lock in a fixed rate 1 on all of or any part of your variable balance at any time
- Offers flexible repayment options, including interest-only
- Gives you ongoing access to your funds through checks, a no-charge Visa® access card, online and phone banking, and over 2,500 branches and 10,000 ATMs
- Provides the security of a fixed rate with fixed monthly payments for the life of the loan
- Offers terms up to 30 years 2
- Disperses your funds to you at closing
Line vs. Loan Comparison Chart
Home Equity FAQs
About the Application and Closing Process
View Application Status
What will my monthly home equity payment be?
How much equity do I have available?
Should I consolidate my debt with a home equity loan?
What is the tax benefit of my home equity loan?
Should I use a home equity or auto loan to purchase a vehicle?
- Call 888-444-BANK or 800-685-5065 (TDD)
- Visit your local U.S. Bank branch
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The Annual Percentage Rate (APR) will vary at Prime Rate as published in the Wall Street Journal. As of January 31, 2008, the variable rate for lines of credit is Prime + 0% to Prime + 3% (6.00% APR to 9.00% APR). Rates vary by loan to value and credit limit. The rate will not exceed 25% APR. The floor rate is 4.99% APR. An annual fee of up to $90 may apply after the first year. The first Fixed Rate Option is free; each additional one is $50. Offer is subject to normal credit approval. Property insurance is required. Interest on amounts exceeding 100% of the available equity is not tax deductible. Consult your tax advisor regarding the deductibility of interest. Rates are subject to change. Some restrictions may apply. Home Equity loans and lines of credit are offered through U.S. Bank National Association ND. Member FDIC.
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Installment loan payment example: On a $30,000 20-year loan (240 payments) at 7.99% APR, monthly payments would be
$250.75 if the Loan-to-Value ratio is less than or equal to 80%. Higher rates apply for higher Loan-to-Value. Offer is subject
to higher credit qualifications. Property insurance is required. Some additional restrictions apply.
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