The U.S. Bank Home Equity Line of Credit is a flexible credit line for those looking to fund long-term projects, offering an accessible balance and a considerable borrowing percentage. Check out all the benefits tailored to your profile!
Key Features
The U.S. Bank HELOC works as a revolving credit line, allowing you to withdraw funds as needed, when needed, during a set draw period.
This way, homeowners can tap into the equity built in their homes to pay for renovations, major purchases, debt consolidation, or any planned expense.
With competitive rates, flexible repayment options, and ongoing access to funds, this product is ideal for those who want to use their home as collateral while enjoying more freedom than a traditional or personal loan. Some of the key features include:
- Credit limit based on your home’s value and current mortgage balance
- Draw period of up to 10 years
- Repayment period of up to 20 years
- Low monthly minimum payments during the draw period (interest-only)
- Optional fixed-rate feature for specific withdrawals (Fixed-Rate Option)
- No origination fees for many qualified customers
Additionally, you can access your funds easily by check, online transfer, card, or directly through the U.S. Bank mobile app.
Advantages
The U.S. Bank Home Equity Line of Credit offers a range of benefits, especially for those looking for a cost-effective and flexible credit solution:
- Lower interest rates compared to credit cards or personal loans
- Reusable credit: withdraw, repay, and withdraw again within the approved limit
- Ideal for home improvements, education, emergencies, vehicle purchases, or debt consolidation
- Full online and mobile app access to manage your credit line
- Option to lock in a fixed interest rate on larger transactions for more predictability
Customers who maintain accounts with U.S. Bank may also qualify for rate discounts based on their banking relationship.
