U.S. Bank is a national bank offering a variable-rate home equity line of credit tied to the Wall Street Journal U.S. Prime Rate. The draw period is ten years and the repayment period that follows is twenty. Balances can be locked at a fixed rate during the draw period without a fee.
Two things about its published pricing are worth knowing before you read the figures below. The bank charges a $75 annual fee after the first year, waived if you hold one of its checking packages, and an early closure fee of 1% of the original line amount, capped at $500, if you close the line within thirty months. Neither is unusual, and neither appears in a headline rate.
Its advertised rate range is a different matter. The product page shows one range in the body and a second, lower-bounded range in a footnote that states an effective date of December 11, 2025. We read the page on August 21, 2026 and that dated figure had not been updated. We have recorded the dated one, because it says when it applied, and we do not present a rate that old as a current rate. Both are quoted in full under Source & evidence.
U.S. Bank HELOC at a glance
Last checked: August 27, 2026
U.S. Bank Home Equity Line of Credit
HELOC
A variable-rate home equity line of credit tied to the Wall Street Journal U.S. Prime Rate, with a ten year draw period followed by a twenty year repayment period. Balances can be locked at a fixed rate during the draw period at no charge. There is a conditional annual fee and an early closure fee within the first thirty months.
- Fixed or variable rate Variable
- Minimum credit score 660
- Draw period 10 years (120 months)
- Repayment period 20 years (240 months)
- Annual fee $75 Not charged in the first year. Waived entirely if you hold a U.S. Bank Platinum Checking Package.
- Application fee None
The lender also states: The rate has a stated floor of 3.25% APR and a ceiling of 18% APR, or applicable state law. Property insurance is required. Balances can be locked at a fixed rate during the draw period, in amounts of at least $2,000, with up to three locks active at once and terms between 12 and 240 months.
The lender also states: The bottom of the range is not generally available. U.S. Bank states: "Rates range from 5.95% APR to 10.85% APR and are subject to change at any time. Lowest rate assumes a credit limit of $50,000 or more, loan to value (LTV) of 60%, FICO score of 730 or higher and automatic payments from a U.S. Bank personal checking or savings account." Those four are assumptions behind the best rate, not requirements to borrow, and the bank says so of the last one: "Automatic payments from a U.S. Bank Consumer checking or savings account are required to receive the lowest rate but are not required for loan approval." It adds that "Rates may vary due to a change in the Prime Rate, location, a credit limit below $50,000, a loan-to-value (LTV) above 60% and/or a credit score less than 730", and that "External (Non-U.S. Bank checking or savings account) discounts are also available". On the life of the plan: "The rate will never exceed 18% APR, or applicable state law, or below 3.25% APR." Those two are the lifetime ceiling and floor, not a range on offer. Separately the page shows a single figure of 6.80% APR described as "the current national average", with rates varying by location. That figure is what the page shows before a location is entered. U.S. Bank invites the reader to narrow it: "Find HELOC rates by location. The rate shown is the current national average. Enter your location details for rates in your area." The lookup takes a state and a county, and it returns different figures for different counties. On 27 August 2026 it returned 6.60% APR for Franklin County, Ohio and 6.80% APR for Los Angeles County, California, while the published 5.95% to 10.85% range stayed the same on both. The range recorded here is the range U.S. Bank publishes. It is not a rate for any particular county, and neither is the national average. The same lookup answers a second question independently: entering Travis County, Texas returned "We're sorry. U.S. Bank currently doesn't offer home equity products in your location." One county answering is not U.S. Bank saying it lends throughout that state, and one county declining is not U.S. Bank saying it lends nowhere in that state. Availability here is only what the lender itself states about the place asked about.
Sources checked: August 27, 2026
Reviewed by Michael Yanda
Last reviewed: August 30, 2026
How we produce these figures: methodology and data standards
Detailed terms
Standard terms we checked the lender's page on August 21, 2026.
- Minimum borrowing amount
- $25,000 our interpretation
- Maximum borrowing amount
- $500,000 our interpretation
- Fixed or variable rate
- Variable
- Minimum credit score
- 660
- Draw period
- 10 years (120 months)
- Repayment period
- 20 years (240 months)
Dates for these figures: the lender states these figures applied from July 6, 2026. We checked its page on August 27, 2026.
U.S. Bank publishes this range under its own date. When this record was first made, in August 2026, the page carried a dated range from December 2025 alongside an undated range starting at 5.95%, and the dated one was recorded. The page now dates the 5.95% range itself, so the two have converged and the older figure is gone.
- APR or rate
- 5.95% to 10.85% a dated reading, not shown as current
- Fixed or variable rate
- Variable
Fees
- Annual fee
- $75 Not charged in the first year. Waived entirely if you hold a U.S. Bank Platinum Checking Package.
- Application fee
- None
- Closing costs
- None
- Early closure fee
- 1% of the credit line, up to $500 Charged only if the line is paid off and closed within the first 30 months.
- Fixed-rate lock
- None During the draw period. Each lock must be at least $2,000, up to three can be active at once, and terms run from 12 to 240 months.
Information we could not verify publicly 8
We could not confirm the following in the lender's published materials. That does not mean no requirement exists, so ask the lender directly if you need one of these figures.
- State availability
- Eligible property types
- Occupancy requirements
- Introductory or promotional APR
- Maximum CLTV
- Maximum LTV
- Maximum debt to income
- Appraisal or valuation
Source & evidence source: lender · checked August 27, 2026 · researched by Chris, our AI research agent · reviewed by Michael Yanda
U.S. Bank HELOC: standard terms
Minimum credit score, from the product page: "To qualify for a HELOC, you'll need a FICO score of 660 or higher."
Draw period, from the home equity FAQ: "The draw period is 10 years, where you have ongoing access to available funds and can use the funds how you'd like."
Repayment period, from the Home Equity Line of Credit Program Description (document dated 10/2019): "You can obtain credit advances for 10 years (the ‘draw period’)" followed by a repayment period of 20 years.
Rate type and index, from the product page: the rate is "variable and is based upon an index plus a margin. The APR will vary with Prime Rate". The Program Description names the index as the "Wall Street Journal U.S. Prime Rate", with a floor of 3.250% and a ceiling of 18.000%. The product page states the rate "will never exceed 18% APR, or applicable state law, or below 3.25% APR".
Borrowing range, RECORDED AS OUR READING RATHER THAN A STATED FACT. The home equity FAQ says: "You can borrow at minimum $25,000 or up to $500,000, depending on your credit history, available equity in the property and your current monthly debt." That answer sits on a page covering both the line of credit and the installment loan and does not say which product the range describes. We have applied it to the line of credit; U.S. Bank has not stated that it does.
State availability is not published. The product page says only: "Not all loan programs are available in all states for all loan amounts."
Maximum CLTV is not published. The product page refers to "a loan-to-value (LTV) above 60%" only as one of the things that can change the rate, and to an LTV of 60% as an assumption behind the lowest advertised rate. Neither is a stated maximum, and we have not inferred one.
U.S. Bank HELOC: advertised rate range
"As of July 6, 2026, the variable rate for Home Equity Lines of Credit ranged from 5.95% APR to 10.85% APR." The same figures appear in the prominent copy: "Rates range from 5.95% APR to 10.85% APR and are subject to change at any time." The December 11, 2025 disclosure previously recorded here is no longer present anywhere on the page, and neither is the 7.20% figure.
What these terms mean
- CLTV, combined loan to value
- Everything secured against the property, added together, divided by the property value. A maximum CLTV of 85% on a $500,000 home means the first mortgage plus the new borrowing cannot exceed $425,000.
- LTV, loan to value
- The same idea for a single loan rather than the combined total.
- Draw period and repayment period
- The draw period is when you can take money out. When it ends, the repayment period begins, you can no longer draw, and payments are often significantly higher.
- Our interpretation
- A figure we worked out from what the lender published, rather than a number the lender states outright.
Our guide to how a HELOC works explains these in more depth.
About this information
Financial data is based on information published by the lender. Important conditions that affect a rate, limit, or other figure are shown with that information. We identify values we have interpreted or calculated rather than treating them as directly published by the lender.
We are not a bank, a lender or a broker, we have no relationship with the lenders listed here, and this is not a recommendation. Terms change. Always confirm directly with the lender before applying.