U.S. Bancorp (NYSE: USB) is a financial services holding company that provides a full range of financial products and services to consumers, businesses and institutions. The company's mortgage unit offers loans and refinance products for consumers. The following is an overview of the bank, its mortgage products and customer reviews.

What U.S. Bancorp Is

U.S. Bancorp is the holding company for U.S. Bank National Association, which is the fifth-largest U.S. commercial bank. U.S. Bank offers banking, investment, mortgage, trust, and payment products and services for consumers and businesses. As of April 2016, the company operates through 3,133 banking offices in 25 states, which are located primarily in the midwest and western parts of the country. The company was founded in 1863 and is based in Minneapolis, Minnesota.

As of December 31, 2015 U.S. Bancorp had $421.8 billion in total assets, $375.7 billion in total liabilities, and stockholders' equity of $46.1 billion. As of April 29, 2016, the company had a market cap of $73.94 billion.

Mortgages Products Offered

U.S. Bank offers fixed-rate loans, adjustable-rate mortgages (ARMs), Federal Housing Administration (FHA) loans, Veterans Affairs (VA) loans and jumbo loans. A fixed-rate loan is a loan issued with an interest rate that remains constant throughout its duration. This loan is an attractive option for a borrower who plans to remain in a home for several years and wants predictable monthly payments. U.S. Bank's ARM provides a low fixed rate for what is typically a period of three to 10 years. It then adjusts annually to a higher rate. An ARM may be a better option for a borrower who plans to stay in a home for a shorter time period.

An FHA loan is a home loan backed by the federal government. Since these loans have more flexible lending requirements than conventional loans, they typically have higher interest rates and may require the borrower to pay monthly mortgage insurance premiums. U.S. Bank offers FHA loans with fixed and adjustable rates.

A VA loan is a home mortgage backed by the Department of Veterans Affairs and available to eligible service members, veterans and their families. These loans require little or no down payments, and eligible borrowers can use them for refinancing as well.

U.S. Bank's jumbo mortgages are designed for buyers of high-priced or luxury homes. Jumbo loans can exceed the $417,000 limit in place for conforming loans in most parts of the country. The loans require a higher credit score, a large down payment and a low debt-to-income ratio.

Mortgage Rates

As of April 29, 2016, U.S. Bank offered the following rates for conforming fixed-rate mortgages: 30-year fixed with a rate of 3.75% and an APR of 3.821%; 20-year fixed with a rate of 3.625% and an APR of 3.723%; 15-year fixed with a rate of 3.125% and an APR of 3.249%; and 10-year fixed with a rate of 2.95% and an APR of 3.129%.

The bank offers the following rates on ARMs: a 10-Year ARM carries a rate of 3.375% and an APR of 3.347%; a 5-Year ARM has a rate of 2.75% and an APR of 3.143%; and a 3-Year ARM carries a rate of 3.125% and an APR of 3.29%.

The bank's 30-year fixed FHA loans have a rate of 3.5% and an APR of 4.555%, while its 15-year fixed FHA loans have a rate of 3.125% and an APR of 4.19%. The bank's 30-year fixed VA loans have a rate of 3.625% and an APR of 3.96%, while its 15-year fixed VA loans have a rate of 3.250% and an APR of 3.844%.

The bank offers the following jumbo rates: a 30-year fixed with a rate of 3.750% and an APR of 3.771%; a 20-year fixed with a rate of 3.75% and an APR of 3.779%; and a 15-year fixed with a rate of 3.5% and an APR of 3.537%.

What Consumers Are Saying

U.S. Bank generally receives poor consumer ratings for its products and services. The bank has 321 reviews on MyBankTracker.com, and 257 of these reviewers give the company one star on a five-star rating scale. Another 16 give the bank two stars, eight give three stars, five give four stars, and 35 give five-star rankings. The bank receives similarly poor ratings on the ConsumerAffairs.com website, where the bank receives a one-star rating based on 198 reviews.

United Wholesale Mortgage Overview (FNMA)

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