Best Construction Loan Lenders

U.S. Bank gives you the big bank experience, such as the option of applying online or in one of its many branches. It offers nearly every loan type, including renovation, construction-to-permanent, and even lot loans.

U.S. Bank offers a wide variety of mortgage types: fixed-rate conventional, FHA, VA, USDA, adjustable-rate, jumbo, investment property, and, of course, new construction and lot loans.

According to our analysis of 2024 HMDA data, U.S. Bank’s average origination fees are on the low end. Its underwriting, on the other hand, is tighter than many of the other lenders we researched: Its “Risk Friendly Score,” which uses loan-to-value and debt-to-income ratios, and FHA loan originations to gauge a lender’s risk tolerance, is among the lowest.

U.S. Bank is a leader among its traditional bank rivals when it comes to online applications and approval tracking. You can manage documents and track your loan through its tools during underwriting. U.S. Bank also allows you to work directly with a loan advisor (it has more than 14,000 of them).

The big bank earned a spot near the top in J.D. Power’s 2024 U.S. Mortgage Servicers Study. However, it was in the bottom half of J.D. Power’s 2024 U.S. Mortgage Originators Study.

Our reviewers gave the lender’s website a 4 out of 5 and its educational resources a 3 out of 5. Our evaluation model gave the bank a 4.5 out of 5 for its overall customer experience. The bank offers all the customer service tools a borrower needs, including a current rates page, a mobile app, and telephone and email support. It scored 4.77 out of 5 on Investopedia’s Combined Customer Satisfaction Rating—this metric aggregates customer review ratings from Trustpilot and Zillow Home Loans.

U.S. Bank, the fifth largest bank in the nation, was founded in 1863 and is headquartered in Minneapolis, Minnesota.