Mortgage Loan Options

Shopping for the right mortgage is like shopping for a new car...you need to find out which one "fits" you and your goals best. U.S. Bank offers a variety of options to best suit your individual needs. For additional options, email a U.S. Bank Home Mortgage Specialistor call us toll-free at 800-365-8544.

Conventional - Fixed Rate Loans

Features

• Offers predictable payment option every month for the length of the loan
• Provides protection against rising interest rates because you lock in a fixed rate
• Presents flexibility if you plan to keep your home for several years

Benefits

• Ensures safety and security of a set payment on principal and interest for the entire loan term
• Provides various fixed rate loan terms available¹
• Requires a lower down payment for first-time homebuyer programs³

  Adjustable Rate Mortgage (ARM)

  Features

  • Gives you the most home for the lowest possible initial payment
  • Allows flexibility if you plan on moving in a few years and are not concerned about possible rate increases

  Benefits

  • Offers start rates that are typically lower than the fixed rate home loans
  • Choose from various initial fixed rate interest periods²

  Government Loans

  Features

  • Offered in all states by the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA)
  • Offers fixed rate and adjustable rate mortgages with flexible qualification guidelines for all qualified borrowers

  Benefits

  • Provides veterans or people with low or moderate income the opportunity to become homeowners
  • Helps those with limited savings finance a new home
  • Offers Guaranteed Rural Housing Loans to qualified borrowers (formerly RECD)³
  • Provides options (e.g., minimal down payment options, flexible qualification guidelines, etc.) for first-time homebuyers³

  Jumbo Loans

  Features

  • Covers large mortgages totaling over $417,000
  • Provides extra borrowing strength

  Benefits

  • Can use Conventional Fixed Rate Mortgage or Interest Only Payment Option⁴
  • Allows primary residences having up to 4 units
  • Allows second home and investment properties
  • Offers allowable loan amounts up to $3,000,000
  • Provides unrestricted maximum loan amount with 30% down or more