Mortgage account management

If you’re struggling to make your mortgage payment, we can help.

To get started, select Mortgage assistance from your mortgage account to let us know your current hardship status and how you’d like to proceed with your monthly payments.

If you have two or more mortgage accounts, log in to each mortgage account to request assistance. For home equity line of credit (HELOC), call us at 855-698-7627.

Your payment may have changed for several reasons, including:

• Escrow – If your account is escrowed, then your monthly payment may change to reflect increases or decreases in your taxes and/or insurance.
• Adjustable-rate mortgage (ARM) – If you have an ARM, the interest rate charged on your mortgage may increase or decrease at a specific time and periodically as agreed upon at the inception of your loan.
• Interest-only mortgage – An interest-only mortgage allows the borrower to only pay interest on the loan for a preset, very specific amount of time. Once that time has elapsed, the borrower will be responsible for making full payments, including principal.
• Buy-down clause – If the terms of your mortgage include a buy-down clause for a specific period of time during which the interest rate is subsidized by a third party, your payment could change. Over time your payments adjust so that you pay an increasing percentage of the original interest rate as defined in your note.

If you pay your monthly mortgage through bill pay, you’ll need to update your financial institution on the new monthly payment amount to be debited from your checking or savings account. Whether you use a U.S. Bank checking or savings account or another financial institution’s bill pay system, you’ll need to update the new recurring payment amount.

You could also enroll in autopay without having to worry to adjust the mortgage payment amount. It’s easy to set up and hassle free.

To enroll, log in to online banking and select Setup & edit autopay from your mortgage account dashboard. Select Enroll in autopay and provide the requested information. New loans may require up to 30 days before this option is available.

You’ll be notified when the first payment is drawn. If your debit lands on a holiday or weekend, we’ll credit your loan the following business day. Otherwise, payments are posted the same day.

U.S. Bank does not accept bi-weekly payments. However, you can make additional payments at any time once the monthly payment due is satisfied.

You can request a payoff quote for your mortgage by either logging in to online banking via your desktop or mobile web browser or the U.S. Bank Mobile App. If you’re not already enrolled in our online and mobile banking service, follow the online banking instructions above for How do I enroll in mobile and online banking.

Online banking steps:

1. From the My accounts page, select your Mortgage account.
2. Select Request payoff quote within the dashboard.
3. Choose the calendar day when you’d like the quote to be generated, then Request payoff quote. The payoff quote will be accurate only through the date you select.
4. Choose how you’d like to receive your detailed quote.

Mobile app steps:

1. From the main dashboard, select your Mortgage account.
2. Select Request payoff quote within Account options.
3. Choose the calendar day when you’d like the quote to be generated, then Request payoff quote. The payoff quote will be accurate only through the date you select.
4. Choose how you’d like to receive your detailed quote.

For immediate access:

• Send the final quote to one or two email addresses.
• Download a PDF, which you’ll be able to forward via text or email.

Or, if you prefer:

• Have the quote sent to you by mail. Estimated delivery is five to seven days and will be sent to the mailing address we have on file.
• Receive your quote by fax. We’ll make three attempts to send your fax.

To request a payoff quote for your mortgage on behalf of a third party, log in to online banking or the U.S. Bank Mobile App. If you’re not already enrolled in our online and mobile banking service, follow the instructions above for How do I enroll in mobile and online banking. Once you’re logged in, follow the steps above for How do I get a payoff for my mortgage loan.

To access a payoff quote for a third party:

• Send the final quote to one or two email addresses.
• Receive the quote by fax. We’ll make three attempts to send the fax.

Instructions for submitting funds via wire or check appear on your payoff quote.

Continue making your monthly payments on time to avoid any late fees or adverse credit reporting.

If you’re enrolled in U.S. Bank mortgage autopay, go to your account dashboard to cancel future payments prior to paying in full. (We’ll cancel for you once the account is paid in full.) If you use a U.S. Bank checking or savings account or another financial institution’s service for monthly mortgage payments, you’ll need to cancel that service.

Update your account with your current mailing address to continue receiving information and refunds, if any.

A lien release will be filed at the corresponding land records office, post-paid in full, in accordance with state-specific guidelines.

A final IRS 1098 statement will be sent by mail or email, according to your noted preference, no later than January 31 of the next year.

You will be able to access an electronic version up to two years after paying your loan in full, via My documents from your U.S. Bank mobile or online account. Follow the steps above for How do I access my documents digitally to learn more about how to view your tax documents online.

Escrow minimum balance is the minimum amount you need to maintain in your account to cover any unexpected tax and/or insurance increase. The minimum balance varies by state, but it is calculated to be not more than two months of escrow payments.

No, not all mortgage loans require an escrow account. To see if your loan qualifies for an escrow removal, contact our customer service center at 800-365-7772.

If you sustain damages to your property, contact your insurance agent to determine if you should file a claim. If so, then follow the steps outlined below. If a total loss of property is sustained, call our Property Loss Insurance Center before rebuilding. We must agree to the disposition of all insurance proceeds.

1. Document and photograph the damages.
2. Report the damages to U.S. Bank Property Loss Insurance Center at 855-205-6693 Monday through Friday, 7 a.m. to 8 p.m. CT.
3. Secure a licensed and insured contractor to make immediate emergency repairs.
4. Maintain evidence of all repairs.

When your claim is settled, your insurance company will make payment jointly to you and U.S. Bank Home Mortgage. Call our Property Loss Insurance Center to discuss the procedures for processing your insurance claim check(s).