Get a home equity recommendation

Answer this series of questions to identify a loan that may fit your needs.

What do you want from a home equity loan?

How much money do you need?

Do you want to keep your current mortgage?

Hint: If you bought your home or refinanced when rates were low, you may want to stay with your current mortgage.

Will you need all the money at once?

How much money do you need?

Do you want to keep your current mortgage?

Hint: If you bought your home or refinanced when rates were low, you may want to stay with your current mortgage.

Is your goal to pay off your debt by a certain date?

Is your goal to pay off your debt by a certain date?

How much money do you need?

Do you want to keep your current mortgage?

Hint: If you bought your home or refinanced when rates were low, you may want to stay with your current mortgage.

Will you pay for your project all at once?

Hint: Many home contractors charge one-third of the estimated cost of a project before work begins, another third midway through the project, and the balance when the project is finished.

Our recommendation

Personal loan

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Fixed annual percentage rate as low as:

Get the funds you need all at once, with a fixed rate and fixed monthly payments for the life of your loan.

Best if:

check icon You need to borrow less than $25,000
check icon You don’t own a home or don’t want to use equity

Fixed rates and payments

Check your rate Learn more

Personal line of credit

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Variable annual percentage rate as low as:

As of 9/20/2024

12.00%

Take out funds as you need them, with rates typically lower than your average credit card.

Best if:

check icon You want ongoing access to funds
check icon You don’t own a home or don’t want to use equity.

Instant, ongoing credit access

Check your rate Learn more

Compare home equity options or you can call 855-246-3139.

Our recommendation

Home equity loan

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10-year fixed annual percentage rate

As of

15-year fixed annual percentage rate

As of

Get the funds you need all at once. You'll have the security of fixed-rate payments on principal and interest for the life of the loan.

Best if:

check icon You need to borrow $25,000 or more
check icon You want to keep your current mortgage

Fixed rates and payments

Prequalify Learn more

Compare home equity options or you can call 855-246-3139.

Our recommendation

Home equity line of credit (HELOC)

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Variable annual percentage rate

As of

Take out funds over time, as you need them. A HELOC is similar to a credit card, but rates are typically lower.

Best if:

check icon You want ongoing access to funds
check icon You want to keep your current mortgage

Funds as you need them

Prequalify Learn more

Compare home equity options or you can call 855-246-3139.

Our recommendation

Cash-out refinance

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Conventional 30-year fixed rate term

As of

APR
Rate

By replacing your current mortgage with a new one, you may be able to get a lower rate. You can also take out extra funds for your project or purchase when you close on your new loan.

Best if:

check icon You need to borrow $25,000 or more
check icon You want to check on a better mortgage rate

Refinance with access to cash

Start your application Learn more

Compare home equity options or you can call 855-246-3139.

Start of disclosure content

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.

U.S. Bank and its representatives do not provide tax or legal advice. Your tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

The Consumer Pricing Information disclosure lists fees, terms and conditions that apply to U.S. Bank personal checking and savings accounts and can be obtained by visiting a branch or calling 800-872-2657.

Home Equity Line of Credit: Repayment options may vary based on credit qualifications. Choosing an interest-only repayment may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. 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. 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. Interest rate 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. Customer pays no closing costs. Initial escrow related funding costs 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.

Home Equity Loan: 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. Home equity loans not available for properties held in a trust in the states of Hawaii, Louisiana, New York, Oklahoma and Rhode Island. 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. Property insurance is required. Other restrictions may apply.