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U.S. Bank HELOC

HELOC from $25,000 to $500,000 with no closing costs, a 10-year draw period and up to three fixed-rate locks

Lender terms checked October 14, 2026
HELOC and Home Equity Lenders
See lender site

The Bottom Line

Max line
$500,000 (verified Oct 14, 2026). All rates and fees

Key facts

  • Draw period: 10 years
  • Fees: No closing costs; $75 annual fee

Pros

  • No application fees or closing costs
  • Lock a fixed rate on all or part of the balance: up to three locks at a time, $2,000 or more each, during the draw period
  • 10-year draw period and 20-year repayment period
  • Publishes a dated rate range and the assumptions behind the lowest rate

Cons

  • A $75 annual fee after the first year, unless you have a U.S. Bank Platinum Checking Package
  • An early closure fee of 1% of the line (up to $500) in the first 30 months
  • The lowest rate needs a 730+ score, 60% loan-to-value, a $50,000+ line and autopay
  • The margin and the maximum loan-to-value are not published

At a glance

Lender terms checked October 14, 2026
Product
HELOC with fixed-rate locks (it also sells a fixed-rate home equity loan)
Lender type
Bank
Credit line
$25,000 to $500,000
Minimum credit score
660
Draw period
10 years
Repayment period
20 years
Term details
Minimum payment during the draw period is 1% or 2% of the balance, or interest only for those who qualify.
Rate type
Variable, with fixed-rate locks
Index and margin
Wall Street Journal Prime Rate plus a margin (margin not published)
Rate floor and cap
The rate will never exceed 18% APR (or state law) or fall below 3.25% APR
Fixed-rate option
Lock a fixed rate on all or part of the balance: up to three locks at a time, $2,000 or more each, and only during the 10-year draw period.
Origination fee
None: no application fees or closing costs
Appraisal and closing costs
No closing costs. Initial escrow-related funding costs may apply.
Annual fee
$75 after the first year, waived with an existing U.S. Bank Platinum Checking Package
Early closure fee
1% of the original line amount, up to $500, if the line is paid off and closed in the first 30 months
Other costs and rules
The lowest rate needs autopay from a U.S. Bank checking or savings account (not required for approval). The credit line may be reduced or frozen in certain circumstances. Property insurance is required.
States served
The code of its HELOC page lists Delaware, South Carolina and Texas as states it does not lend in. Its pages also say not all programs are available in all states.
Online application
Yes

Sources: usbank.com/home-loans/home-equity/home-equity-l…, usbank.com/home-loans/home-equity/home-equity-f…, read October 14, 2026

Sample pricing the lender publishes

Last verified October 14, 2026

This is the lender's own example, not a quote for you. Stated as of September 17, 2026. Its assumptions: Variable rate range across all borrowers. The lowest rate assumes a credit limit of $50,000 or more, loan-to-value of 60%, a credit score of 730 or higher and automatic payments from a U.S. Bank personal checking or savings account.

Sample pricing the lender publishes as read on the provider's page, with the date of the reading shown above
ItemValueDetail
Variable HELOC APR range6.20% to 11.10% APRHigher for limits under $50,000, loan-to-value above 60% or scores under 730

Things to know before you apply

  • A $75 annual fee applies after the first year and is waived with an existing U.S. Bank Platinum Checking Package.
  • If you pay off and close the line in the first 30 months, an early closure fee of 1% of the line applies, up to $500.
  • Its rate range runs from 6.20% to 11.10% APR as of September 17, 2026. The lowest rate assumes a limit of $50,000 or more, 60% loan-to-value, a 730 or better score and autopay.
  • The rate is variable and will never exceed 18% or fall below 3.25%.
  • U.S. Bank can reduce or freeze a credit line in certain circumstances. We could not find its NMLS ID on any usbank.com page we read.

Regulatory record

  • July 28, 2022: A CFPB order about opening credit cards, credit lines and deposit accounts without consumers' knowledge or consent, with a $37.5 million penalty. Not a home equity matter. The order was terminated on August 21, 2025. Source

Where these numbers come from

Everything in the table above was read from the lender's own pages, listed here with the day we read them.

What is U.S. Bank HELOC?

Sources read on the date shown
U.S. Bank HELOC is a home equity line of credit (HELOC) from U.S. Bank National Association. It is a bank. Product notes: HELOC with fixed-rate locks (it also sells a fixed-rate home equity loan). Limits and terms as the lender publishes them: Credit line: $25,000 to $500,000. Minimum credit score: 660. Draw period: 10 years. Repayment: 20 years. Rate type: variable, with fixed-rate locks. Fees, as published: Origination: None: no application fees or closing costs. Closing costs: No closing costs. Initial escrow-related funding costs may apply. Annual fee: $75 after the first year, waived with an existing U.S. Bank Platinum Checking Package. Early closure: 1% of the original line amount, up to $500, if the line is paid off and closed in the first 30 months. U.S. Bank HELOC publishes an example rate with its assumptions (shown on this page, dated September 17, 2026). It is the lender's illustration, not a quote for you. HELOC rates are usually variable, so the rate you pay can change after you open the line. Your home is the collateral for a HELOC, so falling behind on payments could put it at risk. We read these figures from the lender's own pages on October 14, 2026; the pages are listed under 'Where these numbers come from'.
Sourceusbank.com ↗

Key details

$25,000 to $500,00010-year draw, 20-year repaymentNo closing costsUp to three fixed-rate locks of $2,000 or more660 minimum credit score

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U.S. Bank HELOC FAQ

How much can you borrow with U.S. Bank HELOC?

U.S. Bank HELOC publishes credit lines from $25,000 to $500,000. The minimum credit score it states is 660. Your own limit depends on your home's value, what you owe and your credit.

Is the U.S. Bank HELOC rate fixed or variable?

Rate type: Variable, with fixed-rate locks. Rate basis: Wall Street Journal Prime Rate plus a margin (margin not published). Floor and cap: The rate will never exceed 18% APR (or state law) or fall below 3.25% APR. A variable rate can change over the life of the line.

What fees does U.S. Bank HELOC charge?

Origination: None: no application fees or closing costs. Closing costs: No closing costs. Initial escrow-related funding costs may apply. Annual fee: $75 after the first year, waived with an existing U.S. Bank Platinum Checking Package. Early closure: 1% of the original line amount, up to $500, if the line is paid off and closed in the first 30 months.

What are the draw and repayment periods at U.S. Bank HELOC?

Draw period: 10 years; repayment: 20 years. During the draw period you can borrow and repay; after it ends you can no longer borrow and payments are often higher.

Will U.S. Bank HELOC quote my rate here?

No. Financeradar is not a lender and we do not quote personal rates. We show what the lender publishes, with the date we checked it. Your own rate comes from an official offer from the lender.

Source: usbank.com