Mortgage Account Management
Simplify how you manage your mortgage.
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Get answers to the most frequently asked mortgage-servicing questions.
Never received: Please confirm the accuracy of your contact information. Log into Online Banking and select “My Profile” under the Customer Service menu option. Or, you may call customer service at 800-365-7772.
Misplaced: You may obtain the payment amount due and access your account information by logging into online banking. Your account information will appear under your mortgage account. Or, you may call our automated voice response system 24/7 at 800-365-7772.
To send in a payment, note your mortgage account number on your check and send it to one of the addresses listed below:
U.S. Postal Service delivery:
U.S. Bank Home Mortgage
P.O. Box 790415
St. Louis, MO 63179-0415
U.S. Bank Home Mortgage
ATTN: Payment Processing
4801 Frederica Street
Owensboro, KY 42301
An adjustable rate mortgage (ARM) allows the lender to adjust the interest rate of a mortgage at scheduled intervals. A rate cap limits the amount the lender may increase or decrease the interest rate per each adjustment. Many ARMs also have life of loan rate caps. This represents the highest or lowest interest rate a loan may adjust to over the life of the loan. A conversion option allows the borrower to convert their ARM to a fixed rate within a given time period. If you have an ARM, review the provisions within the terms of your note.
You can also adjust your email and phone marketing preferences by logging in to Online Banking and choosing “My Profile.” Then select “Edit” next to your phone number or email and select your preference.
Attn: Escalation Center
PO Box 21977 Eagan, MN 55121
SCRA Review Team
PO Box 6060
Newport Beach, CA 92658-9880
U.S. Bank does not accept bi-weekly payments. If you make a partial payment, we will hold it in a suspense account until you remit the remainder of the payment due. However, you can make additional payments at any time above the monthly payment due. You must designate that you wish to apply the extra payment towards principal or it will be put in the suspense account and applied towards your next payment.
Your payment may have changed for several reasons, including:
If you pay your monthly mortgage through Bill Pay (reoccurring bill), then you will need to update your financial institution on the new monthly payment amount to be taken from your checking or savings account. If you have set up automatic draft, you will not need to adjust the amount deducted. If you are unsure, contact your financial institution where you have your checking or savings account. Please review your note for additional information regarding payment changes.
You can make your monthly payment in five ways, as outlined below. Please note, U.S. Bank does not allow mortgage payments to be made by credit card.
Speed Pay by phone –The Speed Pay payment method allows customers to make a payment by phone either through our automated voice response system or with the help of a customer service representative. If you pay by Speed Pay, we will credit your payment the same day (next day if made on a weekend or holiday).
To make a payment by phone 24/7 using our automated voice response system, call 800-365-7772. You will be prompted to enter your checking or savings account number and your bank’s routing number. Upon completion, the mortgage payment will be electronically drafted from your loan the same day and you may be charged a $5 fee.
To make a payment with assistance from a customer service representative, call 800-365-7772 Monday through Friday from 7 a.m. to 9 p.m. CT and Saturday from 9 a.m. to 2 p.m. CT. There is up to an $11 fee if you complete Speed Pay through a customer service representative.
If you are having difficulty making your payment, don’t ignore the problem. Contact a Loan Counseling representative at 800-365-7900 Monday through Friday from 7 a.m. to 9 p.m. CT and Saturday from 9 a.m. to 2 p.m. CT. We will ask you about your finances and the nature of your difficulties. We will then evaluate your situation to determine if you qualify for a workout plan. We may suggest you first agree to a payment plan for three or more months before approving you for one of these plans. Please note: U.S. Bank does not offer principal forgiveness as part of our loss mitigation program.
Workout plans include:
If your financial difficulties are permanent in nature and you cannot afford to keep your home, please call us to discuss ways to avoid foreclosure. A pre-foreclosure sale or deed-in-lieu of foreclosure could allow you to transfer ownership to U.S. Bank Home for less than full payoff.
To better understand your options, please call our Loan Counseling Department at 800-365-7900 Monday through Friday from 7 a.m. to 9 p.m. CT and Saturday from 9 a.m. to 2 p.m. CT. To apply for assistance, please visit mortgagehelp.usbank.com.
A billing statement is sent once a month. Please pay the amount indicated on the statement. Additional funds may be included to be applied toward the principal balance, escrow/impound account, late charges or other fees. You must designate how the additional funds are to be applied in the area provided. Always include your loan number on the check and allow at least seven (7) business days for mailing.
Do not send correspondence with the mortgage payment. Our payment processing centers only handle the application of mortgage payments and the additional funds indicated above. Any other funds or correspondence must be mailed to our Correspondence Address located on the front of your billing statement. You may also view important U.S. Bank contact information. Your loan number should be referenced on all correspondence for quick and efficient processing.
Escrow accounts are maintained by your mortgage servicer to pay your property taxes and insurance. Your lender funds this account through the escrow portion of your monthly mortgage payment. Not all mortgage loans require an escrow account. If you meet certain criteria, you may have the option to not keep an escrow. To learn more about escrow, please visit our Financial IQ page. To see if your loan qualifies for an escrow removal, contact our Customer Service Center at 800-365-7772 Monday through Friday from 7 a.m. to 9 p.m. CT and Saturday from 9 a.m. to 2 p.m. CT.
An escrow shortage occurs when there are insufficient funds in the account to cover all escrow paid expenses. It is a common occurrence that is most typically caused by an unexpected increase if your property taxes and/or insurance. If at any time you have an escrow shortage, U.S. Bank will use corporate funds to continue paying your tax and insurance bills on time. An escrow analysis will be performed annually and your monthly mortgage payment will be adjusted to reflect the higher escrow needs so as to avoid another shortage. Additionally, you may either repay U.S. Bank for funds used to cover your shortage in full or increase your payment to cover the shortage over the course of 12 months. To learn more about escrow, please visit our Financial IQ page.
Less frequently, you may experience an unexpected decline in your taxes and/or insurance, leaving you with excess funds in your escrow account. This results in an escrow overage. If you have an overage, you will be refunded and we will also adjust your future escrow requirements accordingly.
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.
Please do the following if you wish to change insurance companies:
Mortgage Insurance (MI) is an insurance policy that protects a mortgage lender or title holder in the event that the borrower defaults on payments or is otherwise unable to meet the contractual obligations of the mortgage. MI, which is paid by the borrower to a private MI company, can cost the borrower up to 1% of the loan annually. Several factors determine whether or not your mortgage will include MI requirements, most importantly type of mortgage and percent down payment.
If you have questions concerning your tax bill, contact your local taxing authority.
You should receive your Mortgage Interest Statement (Form 1098) from U.S. Bank Home Mortgage by January 31. You may also obtain this information 24/7 through our automated voice response system at 800-365-7772. Or, consider going paperless. Please visit usbank.com and log in to Online Banking. Select your Mortgage Account and then click on Statements and Documents. Choose Mortgage Interest Statements from the dropdown list. If your loan was with U.S. Bank Home Mortgage for the entire year, then the statement will include all account activity from January 1 through December 31. If we acquired your loan during the year, the statement will usually only cover the time period we serviced your loan.
Responsibility for paying property taxes depends on whether or not your mortgage is escrowed.
Escrowed accounts – If your mortgage loan has an escrow account, then U.S. Bank Home Mortgage is responsible for paying your property taxes on time. We will typically receive your tax bills directly from the taxing authority. However, there are exceptions. If your taxing authority sends a tax bill to you and your loan is escrowed, please send it to us immediately at the address or fax below. You will be responsible for any penalties or fees assessed if you delay.
|By mail:||U.S. Bank Home Mortgage
Attn: Tax Department
PO Box 21948
Eagan, MN 55121
Non-escrowed accounts – If you have a non-escrowed account, then you are responsible for payment of property taxes on time. You will be responsible for any penalties for a late payment. You must submit proof of payment to us every year.
Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC. Equal Housing Lender
The rates shown above are the current rates for the refinance of a single-family primary residence based on a 90-day lock period. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your guaranteed rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.
To guarantee a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. Application can be made by calling 877-303-1639, by applying online, or by meeting with a mortgage loan officer.
Minnesota residents: To guarantee a rate, you must receive written confirmation as required by Minnesota Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206.
Conforming Fixed-Rate Loans - Conforming rates are for loan amounts not exceeding $510,400 ($765,600 in AK and HI). Annual Percentage Rate (APR) calculation is based on estimates included in the table above with borrower-equity of 20%, borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. If the borrower-equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR.
Conforming ARM Loans - Conforming rates are for loan amounts not exceeding $510,400 ($765,600 in Alaska and Hawaii). Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. Annual Percentage Rate (APR) calculation is based on estimates included in the table above with borrower-equity of 20%, borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. If the borrower-equity is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR.
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