Posts Tagged ‘US Bank’
US Bank Home Loans, Mortgage, Refinance Rates and Review(s)
US Bank has an extensive collection of mortgage products available to consumers throughout most of the country. Whether you’re looking for a new home loan or looking to refinance an existing home loan, US Bank will be able to tailor a mortgage package to fit your needs. They offer fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo mortgages, reverse mortgages, and interest only mortgages. Their loan specialists may also be able to accommodate customized loan packages for certain customers as well.
US Bank, based out of Ohio, is one of the largest banks in the country with over 2,900 offices and $150 million (plus) in deposits. They are a publicly traded bank on the New York Stock Exchange (NYSE) under the symbol USB. They have a current market cap of almost $40 billion and were able to maintain a somewhat stable share value (relatively speaking) during the industry collapse of 2008. Their stock price currently trades in the low $20′s per share and dipped only briefly to below $10 in the Fall of 2008.
Home Loan, Refinance and Mortgage Rates offered through US Bank:
(Rates accurate as of 9/1/2010. Visit their mortgage center for updated rates and info)
- Conforming Fixed 30 Year Mortgage going for 4.564% APR.
- Conforming Fixed 20 Year Mortgage going for 4.463% APR.
- Conforming Fixed 15 Year Mortgage going for 3.985% APR.
- Conforming Fixed 10 Year Mortgage going for 3.908% APR.
- FHA Fixed 30 Year Mortgage going for 4.879% APR.
- FHA Fixed 15 Year Mortgage going for 4.565% APR.
- VA Fixed 30 Year Mortgage going for 4.846% APR.
- VA Fixed 15 Year Mortgage going for 4.594% APR.
- 5 year ARM going for 3.544% APR.
- 3 year ARM going for 3.628% APR.
- Jumbo 30 year fixed rate mortgage going for 4.903% APR.
- Jumbo 15 year fixed rate mortgage going for 4.385% APR.
Assumptions, Terms and Conditions:
Mortgage rates published on this page are the current rates for a single-family, primary residence based on a 90-day lock period and are subject to change without notice. In order to receive a guaranteed rate, you must have applied for an application through U.S. Bank and received a verbal confirmation from a loan officer that your desired rate is locked. Your guaranteed mortgage rate will depend on factors such as current market conditions, loan product, occupancy, property type and your credit profile. Minnesota residents must receive a written confirmation as required by Minnesota Statute 47.2061.
1. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206.
Loan Product and APR Information
- Conforming rates are for loan amounts not exceeding $417,000 ($625,500 in AK and HI)
- Jumbo rates are for loan amounts exceeding $417,000 ($625,500 in AK and HI)
- Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment.
- Additional loan products, rates and lock periods are available.
Conforming Fixed, ARM
APR calculation assumes a $150,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.
Jumbo Fixed
APR calculation assumes a $500,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.
FHA Loans
Base loan amount assumed a 3.5% down payment. APR calculation assumes a $153,375 loan amount ($150,000 base loan amount plus $3,375 up-front mortgage insurance premium), estimated borrower paid finance charges of .75% of the loan amount, up-front mortgage insurance premium, monthly mortgage insurance, plus discount points and/or an origination fee may be charged, if applicable. The monthly principal and interest payment shown above does not include the FHA required monthly mortgage insurance payment.
VA Loans
Base loan amount assumed 100% financing. Actual loan amount assumed funding fee percentage based on veteran’s prior usage of entitlement. APR calculations assume a $154,950 loan amount ($150,000 base loan amount plus $4,950 VA Funding Fee), estimated borrower paid finance charges of .75% of the loan amount, VA Funding Fee, plus discount points and/or an origination fee may be charged, if applicable.
If you have experience in the home loan process with US Bank please share by leaving a comment!
Recent Mortgage Reviews:
Total Mortgage Services Review: Featuring APR’s below the national average (as of 8/2010).
E-Trade Mortgage Rates and Review: Featuring APR’s below 5% as of (8/2010).
Discount on Auto Loan Rates for purchasing “Green Vehicles”
A number of local banks and credit unions (and even one large national bank) are offering fairly noteworthy discounts on auto loans if you’re purchasing a new or used “green vehicle.”
For example Columbia Credit Union out of Washington state is offering auto loan rates as low as 3.74% APR, if your vehicle is eligible for their “E-Go loan discount” of 0.25% APR.
US Bank has an even more enticing offer on their green auto loan rates. For a limited time, U.S. Bank and the U.S. Environmental Protection Agency (EPA) want to help you save fuel, money and the environment with “SmartWay.”
What is SmartWay?
When you identify a cleaner, more fuel efficient vehicle through the EPA Green Vehicle Guide, and choose to finance or refinance that new or used U.S. EPA Certified “SmartWay” vehicle with U.S. Bank, you can get .50% off the interest rate on your U.S. Bank direct auto loan.
US Bank claims to set them self apart from other financial institutions offering similar deals in that – some lenders offer green vehicle programs only on new or nearly new vehicles, hybrids or high gas mileage vehicles. However, at U.S. Bank, eligible vehicles include all EPA Certified SmartWay autos and light trucks from the current model year through the six previous model years.
If you know of a similar deal offered through your bank or credit union, please share by leaving a comment!
US Bank CD (certificate of deposit) rates an review
U.S. Bancorp (NYSE: USB), with $265 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
US Bank offers certificate of deposit accounts, money market accounts as well as other FDIC insured savings vehicles which help your money grow over time.
To open a US Bank deposit product, you will need to visit one of your local branches to apply. Rates vary from branch to brach. Some of the deposit rates available nationwide through US Bank are listed below. These deposits require a minimum deposit of $1,000 to open.
US Bank CD Rates:
- 21 month CD pays interest rate of 1.00% and 1.01% APY. Interest is paid annually and at maturity.
- 42 month CD pays interest rate of 1.98% and 2.00% APY. Interest is paid annually and at maturity.
- 59 month CD pays interest rate of 2.71% and 2.75% APY. Interest is paid annually and at maturity.
- Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate.
- All interest payments for the advertised APY will be made at the end of the term or annually, whichever occurs first.
- Penalty will be imposed for early withdrawal.
- APY is subject to change without prior notice.
- CDs are automatically renewed at maturity.
- Online application is not valid for single maturity CDs, business or retirement CDs, brokerage deposits, institutional investors, public funds or in conjunction with other promotional offers.
Interest rates paid on deposit products have dropped significantly over the course of 2009. Earlier this summer US Bank was paying 4.0% APY on their 59 month CD, this rate has now dropped to a much more modest 2.75% APY.
Contact Info:
Pleasanton, California certificate of deposit rates
Below are the top 3 CD rates available to residents in Pleasanton, California. The best rate comes from Patelco credit union. We have covered this credit union a few times in the past because of their superb 12 month CD yielding an unheard of 7.0% APY. Obviously there is a catch with this deal though, and that is you can only invest up to $1000. The second and third best CD rates available to Pleasanton residents have no maximum deposit amounts, however your money will only be federally insured (by the FDIC) up to $250,000. After researching local credit unions and banks in this region, I have found the best CD rates to come in the form of 1 year CDs, 2 year CDs, and 5 year CDs. You may want to scroll through our archive of CD rates in California or compare CD rates nationwide to make sure you are getting the most bang for your buck. In general local banks and credit unions serving the Pleasanton area will offer similar rates to those offered by national banks. In some cases you will receive more lucrative rates from national banks than you will from local ones in this region.
Top 3 CD rates (Pleasanton, California)
(these rates may be available outside Pleasanton as well)
Patelco Credit Union: Hayward, California. 12 month CD yielding 7.0% APY with a MAXIMUM deposit amount of $1,000. Patelco CU offers it’s members a wide range of financial products from home loans and insurance to savings products and IRA’s. They claim to be one of the most financially sound credit unions in the country and also claim to have avoided the sub-prime lending frenzy. They are a not-for-profit member-owned financial institution.
CitiBank, National Association: Dublin, California. 25 month CD yielding 2.40% APY with a minimum deposit amount of $5,000. This product is not exclusively available at CitiBank’s Dublin, CA branch. This is a nationally available product. CitiBank also has a checking account sign-up bonus to new customers.
US Bank, National Association: Dublin, California. 59 month CD yielding 4.0% APY with a minimum deposit amount of $1,000. Again, this is another product available to customers nationwide.
If you reside in Pleasanton, CA or the surrounding area and know of a local rate that is higher than the ones listed above, please share by leaving a comment!
US Bank’s 59 month certificate of deposit: 4.0% APY
This is one of the first decent savings rates I have seen come out of US Bank in a while. If you happen to be in the market for a certificate of deposit with a long maturity …say 59 months to be exact, then this may be your best bet.
Currently US Bank has a 59 month CD with an interest rate of 3.92% or 4.00% APY, the national average sits at around 3.0% APY. I’ve seen a few national banks raise the rates for their long maturity CD products lately and slim down the rates for their short term CD’s. Both Ally bank and Discover bank have made somewhat similar moves lately.
US Bank doesn’t offer any great shakes on it’s 6 month CD, 12 month CD, or 24 month CD. In fact they have a 13 month CD that is only yielding 1.00% APY which is about 40% below the national average of 1.75%.
As always, here is a magnifying glass over the fine print:
- must open a CD in person at a local US bank branch
- CD will automatically renew upon maturity without prior written notice
- Penalty for early withdrawal
- Rates subject to change without notice
- Fixed rate CD (once you’re money is locked in, the rate will remain the same until maturity)
Free $100 for opening US Bank Checking Account!
Thanks to BankVibe reader, BloggingBanks who tipped me off on a sweet deal going on this month through US bank. Currently, US Bank is giving away $100 when you open one of two different checking accounts. To receive the bonus either open their “Platinum Package” or “Gold Package” and deposit $50 into this account by March 31st, 2009.
As always, pay close attention to the fine print before signing up for this deal.
Terms and Conditions
- Set up a recurring direct deposit of at least $100 within 60 days of account opening.
- Your bonus will be reported as interest earned on IRS Form 1099-INT and will be credited to your new checking account within 6-8 weeks after direct deposit is established assuming account is open and in good standing.
- Offer may not be combined with any other cash bonus or marketing offers. One offer per household. Offer is not transferable. Deposit Products offered by U.S. Bank, N.A. Member FDIC.
- $50 minimum to open account
