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 logging in to online banking via your desktop or mobile web browser. 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.

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).

Tax amounts may change due to the tax rate established by your taxing authority, as well as the taxable value of your property.

We’ll pay your property taxes if you have a U.S. Bank mortgage loan with an escrow account. If you are in receipt of a regular tax bill, it’s not necessary to contact us, as we’ll make the payment from your escrow account by the stated due date.

However, if you have a non-escrowed account, you are responsible for tax payments. If you are unable to pay your taxes, contact us at 800-365-7772 for your escrow initiation options. Please be advised that if payment is not made by the tax due date, U.S. Bank Home Mortgage may pay and establish an escrow account to protect our interest in the collateral.

If your taxing authority sends a delinquent, supplemental, corrected, added or interim tax bill, and you want us to make your payment from escrow, send a copy of the bill to:

U.S. Bank
PO Box 21948
Eagan, MN 55121-4201

Payment of this bill may cause a shortage in your escrow account. Some taxing authorities offer “early pay” discounts. U.S. Bank will always pay your taxes to take advantage of these discount dates when possible.

Dates may vary when tax documents are mailed or available online. Find more information on when to expect your tax documents.

If you are a Wisconsin resident, refer to the Wisconsin tax payment FAQ page to learn more about your tax payment options.

A forbearance could affect your taxes. View our mortgage help and repayment options page to learn more.

For additional questions on tax documents, view our Tax Document FAQ.

For your mortgage account, you’ll receive:

• 1098 Mortgage Interest Statement
• 1099 INT: Interest income earned
• 1099 A
• 1099 C

To access your tax documents online or on your mobile device, follow the steps outlined in this video.

When a tax document is available online, we’ll send an email to the address(es) you’ve shared with us. You’ll also get a message in Online message center each time you have a new or corrected tax document available. You can also opt in to receive a text notification through the mobile app.

To update your email, go to Customer service at the top of the page, select My alerts, and then select Account alerts. Look for the alert Tax document is available and select Edit to make a change.

Your tax documents will be available online for up to two years. You can order a paper copy for documents older than two years.

Your tax documents will be available online sometime in January and you’ll receive an email notification every time a tax document is available online. We’ll also mail you a printed copy of your tax documents by January 31, 2022.

Yes. A borrower and co-borrower can both view mortgage tax documents online.

Yes. Even when you choose online tax documents, you’ll still receive paper documents.

Even when you choose online tax documents, you’ll still receive paper documents. You can always request a duplicate copy at no additional charge by calling us at 800-365-7772.

Since every situation is unique, we encourage you to reach out to a trusted tax professional for advice before the end of the tax year.

• If you missed any regular mortgage payments—or paid less than the regular amount—because you were on a forbearance plan, the mortgage interest, real-estate taxes and/or mortgage insurance paid as reported on your 1098 statement may be impacted.
• If you did not make payments while on a forbearance, then the amount of mortgage interest received from payer(s)/borrowers (Box 1 on the 1098 form) and mortgage insurance premiums paid (Box 5 on the 1098 form) may be different from prior years.

In tax documents, a property refers to a single parcel. More than one parcel could be located on a single real estate property.

The IRS only requires that either Box 7 or Box 8 are completed. It’s our policy to always use Box 8 to allow for any specifications that may be necessary.

FHA 1098 statements include an FHA disclosure stating that there is a difference between your principal balance and the actual payoff balance. Rest assured this isn’t a request to pay off your loan. It's just a reminder that if you were interested in paying off the loan, this is what it would cost to do so.