Compare your refinance loan options.

Traditional refinance

Reduce your interest rate and term

Conventional 15-year term
Rate
APR
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Cash-out refinance

Access to cash as you refinance

Conventional 20-year term
Rate
APR
Showing Rates for

The rates shown are current as of $date.

These rates are based on some standard assumptions as described below.1 Learn more about interest rates and annual percentage rates (APRs).2 Plus, see estimated conforming fixed-rate3 monthly payment and APR examples.

Compare all mortgage loan options in one easy spot.

Want to use home equity to fund a major purchase without refinancing?

A home equity loan or a home equity line of credit might be just what you’re looking for. They’re great ways to pay for things like home improvements, tuition, big events and more.

Home equity loan

Better if you have a one-time expense

  • Fixed interest rates
  • Predictable repayment schedule
  • Terms up to 30 years4

Home equity line of credit

Better for ongoing access to funds as needed5

  • Rates typically lower than credit cards
  • Flexible repayment options
  • Option to lock in a fixed rate

Determine if refinancing your mortgage is right for you.

See how much you could save by refinancing your mortgage.

Find ways to pay for your home improvement project.

Get rewarded for your loyalty.

At U.S. Bank, our years of industry expertise and breadth of product options aren’t all we have to offer. If you have an existing U.S. Bank first mortgage, a U.S. Bank Smartly™ Checking account or an existing Gold or Platinum Checking Package, you may be eligible for a customer credit6 of 0.25% of the loan amount deducted from the closing costs of your new first mortgage, up to a maximum of $1,000.7

Explore articles and resources on home improvement tips and refinancing

Should I refinance my mortgage?

What’s the refinance process?

When is the right time to refinance?

Explore home improvement loans.

Calculate your home improvement costs.

Cash-out refinance vs. home equity loans and lines of credit

FAQ

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Disclosures

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

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  1. The rates shown above assume you have a FICO® Score of 740+ and at least 25% equity for a conventional fixed-rate loan, an adjustable-rate mortgage (ARM) loan or a jumbo loan, at least 3.5% equity for an FHA loan and no equity for a VA loan. They also assume the loan is for a single-family home as your primary residence and you will purchase up to one mortgage point. Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. Connect with a mortgage loan officer to learn more about mortgage points.

  2. Annual percentage rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans.

  3. Conforming fixed-rate estimated monthly payment and APR example: A $464,000 loan amount with a 30-year term at an interest rate of 6.500% with a down payment of 25% and no discount points purchased would result in an estimated monthly principal and interest payment of $2,933 over the full term of the loan with an annual percentage rate (APR) of 6.667%.

    Estimated monthly payment and APR calculation are based on a down payment of 25% and borrower-paid finance charges of 0.862% of the base loan amount. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

  4. Home Equity Loan: As of November 14, 2023, the fixed Annual Percentage Rate (APR) of 8.40% is available for 10-year second position home equity installment loans $50,000 to $99,999 with loan-to-value (LTV) of 60% or less. Rates may vary based on LTV, credit scores or other loan amount. In order to receive the lowest rate advertised, a set-up of automatic payments from a U.S. Bank personal checking or savings account is required but neither are required for loan approval. Customers in certain states are eligible to receive the preferred rate without having automatic payments from a U.S. Bank personal checking or savings account. Loan payment example: on a $50,000 loan for 120 months at 8.40% interest rate, monthly payments would be $617.26. Payment example does not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included and an initial customer deposit may be required if an escrow account for these items is established. Home equity loans not available for properties held in a trust in the states of Hawaii, Louisiana, New York, Oklahoma and Rhode Island. Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Property insurance is required. Other restrictions may apply.

  5. Home Equity Line of Credit: The Annual Percentage Rate (APR) is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. As of November 6, 2023, the variable rate for Home Equity Lines of Credit ranged from 8.95% APR to 13.10% APR. Rates may vary due to a change in the Prime Rate, a credit limit below $50,000, a loan-to-value (LTV) above 60% and/or a credit score less than 730. A U.S. Bank personal checking account is required to receive the lowest rate, but is not required for loan approval. Customers in certain states are eligible to receive the preferred rate without having a U.S. Bank personal checking account. The rate will never exceed 18% APR, or applicable state law, or below 3.25% APR. Choosing an interest-only repayment may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. Repayment options may vary based on credit qualifications. Interest-only repayment may be unavailable. Loans are subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Credit line may be reduced or additional extensions of credit limited if certain circumstances occur.

    An early closure fee of 1% of the original line amount, maximum $500, will apply if the line is paid off and closed within the first 30 months. Property insurance is required. Other restrictions may apply. An annual fee of up to $75 may apply after the first year and is waived or discounted with an existing U.S. Bank Platinum Checking Package or with enrollment in our Smart Rewards Program. Annual fees are assessed based on the tier in our Smart Rewards Program on your HELOC anniversary date. Please refer to your Smart Rewards terms and conditions for more information on tier assignment.

  6. Clients may be eligible for this credit with an existing U.S. Bank first mortgage, a U.S. Bank Smartly Checking account or an existing Gold or Platinum Checking Package. A minimum of $25 is required to open a U.S. Bank Smartly Checking account. For a comprehensive list of account pricing, terms and policies see the Consumer Pricing Information disclosure and the Your Deposit Account Agreement. These documents can be obtained by contacting a U.S. Bank branch or calling 800-872-2657.

  7. To calculate the U.S. Bank Client Credit, take 0.25% of your new first mortgage loan amount and deduct it from the closing costs. For purchase or refinance transactions, the maximum credit is $1,000. Certain mortgages may not be eligible for stated credits. Offer may not be combined with any other mortgage offers and can only be applied once per property within a 12-month period.

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The rates shown above are the current rates for the purchase of a single-family primary residence based on a 45-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 final rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.

To lock a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. An application can be made by calling 888-291-2334, by starting it online or by meeting with a mortgage loan officer.

Minnesota properties: 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: The annual percentage rate (APR) calculation assumes a $464,000 fixed-term loan with a 25% down payment and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $766,550 ($1,149,825 in Alaska and Hawaii).