Home improvements
For one-time home remodel projects, a home equity loan is a great option. Not only are you improving your home, you’re reinvesting the money back into your property.
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Apply online in minutes.
Our application is fast and easy. Just enter the amount you want to borrow and your property and contact information.
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Close, and access your funds.
The time it takes to process your application can vary. If approved, your funds will be available within three business days after you close, with no closing costs.
A home equity loan is a one-time installment loan that lets you use the equity in your home as collateral. It’s sometimes referred to as a home equity installment loan or HELOAN for short. Home equity loans offer several benefits, including a fixed interest rate that may be lower than other types of loans, and a regular monthly payment. This gives you a predictable repayment schedule for the life of the loan, up to 30 years.
To qualify for a home equity loan, you’ll need a FICO score of 660 or higher. U.S. Bank also looks at factors including:
Want to learn more about credit scores? You can monitor your VantageScore® credit score from TransUnion® for free1 via the U.S. Bank Mobile App or online banking. (This score is for educational purposes and isn’t used by U.S. Bank to make credit decisions.)
The rates shown are the current national average. Enter your location details for rates in your area.
Rates shown for loans in the amount of $50,000 – $99,999 up to 60% loan to value (LTV), and for clients with automatic payments from a U.S. Bank personal checking or savings account with a FICO score of 730 or higher.2 Rates may vary by region and are subject to change.
Prequalification helps you see how much you might be able to borrow, without affecting your credit score.
A Loan Estimate provides important details about your loan, including the estimated interest rate, monthly payment and total closing costs. Get a Loan Estimate without completing a full loan application by speaking to a banker.