U.S. Bank Mortgage – Retail and Wholesale

U.S. Bank is one of the ten largest banks in the United States in terms of assets and the number of branches. Headquartered in Minneapolis, The bank offers a wide variety of financial services in 25 Midwestern and Western states through more than 3,000 branches and over 5,000 ATMs.

The home mortgage department of the bank consists of retail as well as wholesale operations, allowing correspondent lenders to login to its wholesale lending division. Retail customers, on the other hand, can directly contact U.S. Bank mortgage customer service at 877-303-1637 and talk to a loan officer for available home financing options.

Loan Origination

Types of Mortgage Options at U.S. Bank

The bank offers following types of mortgage loans.

  • Fixed-Rate Mortgages
  • Adjustable-Rate Mortgages (ARM)
  • Jumbo Loans
  • FHA Loans
  • VA Loans
  • Construction Loans
  • Investment Property Loans

How to Choose the Best Mortgage Option?

Here is how you should decide for the best loan option.

  • Buying your second home – choose an investment property loan
  • Planning to build a home on your own – consider a construction loan
  • Being a military member or veteran – take a VA loan
  • Lacking necessary down payment or credit – try an FHA loan
  • Wishing to buy a home costing over $417,000 – go for a jumbo loan
  • Buying a home for temporary use – apply for an adjustable-rate mortgage
  • Purchasing a home for a longer stay – get the fixed-rate mortgage

U.S. Bank Wholesale Lending

Sometimes, you become a client of U.S. Bank indirectly, via a correspondent lender, who works for the bank in return for a fee. The bank provides competitive pricing, innovative programs and solutions to meet all residential lending needs to its correspondent lenders, who can login to U.S. Bank wholesale lending division to access home mortgage wholesale prime plus broker rate and other information.

Mortgage Servicing

Online Payment

Existing clients can make payments online by logging in to their account available with the bank. If you have not enrolled for the same, you can do so online by providing your loan number, Social Security Number, and email address.

Besides, you also need to choose your own user ID and password, both of which must not be less than 6 characters, and answer a few security questions that you choose from a list of predefined questions. Call 800-365-7772 if you face any technical difficulty when trying to log in to your U.S. Bank mortgage account.

Mortgage Assistance

U.S. Bank ensures hassle-free mortgage servicing with its online payment gateway. However, if you feel difficulty in making monthly payments due to a temporary or permanent hardship, you must immediately contact the customer service of the bank at 800-365-7772.

You may be asked to explain your situation and provide proofs of household income and expenses. The bank will send you a borrower response package, which you must complete and send by fax to 877-903-6972 for mortgage assistance.

Repayment Options

Depending upon your situation, you may be able to qualify for a government-backed program, such as HAMP, HARP and HAFA, or a bank-sponsored repayment option, such as repayment plan, hardship loan modification and partial claim. If selling remains the only viable option, you may be offered a short sale or a deed in lieu of foreclosure to avoid a foreclosure sale.

Updated on: February 23rd, 2015 by Marlon Brown

Leave a Comment

Your email address will not be published. Required fields are marked *