We’re here to help you become a homeowner.

The U.S. Bank American Dream loan provides homebuyers the assistance they need to get over the buying threshold and into their next home. And it can be combined with other down payment assistance and grant programs.

Down payment as low as 3%

Don’t have 20% to put down on a home? It’s okay – even putting 3% down can get you into a home. The American Dream loan entry cost assistance can help you reach that 3% down payment.

Mortgage insurance paid by U.S. Bank

With an American Dream loan, U.S. Bank covers the mortgage insurance cost.

Assistance funds available

Get assistance funds up to either $5,500 or 3% of the purchase price up to $10,000 – whichever is greater. Use them for a down payment, closing costs, required repairs or improvements.

Competitive, fixed interest rate for the life of the loan

The interest rate you start with will stay the same over the course of your 30-year loan.1

Works with those on income-driven repayment plans

If you’re in the process of managing your student loans with an income-driven repayment program, the American Dream loan can still work for you.

Available in 26 states

The American Dream loan is available in the following states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin and Wyoming.

Don’t see your state listed? There may be other assistance programs in your area. Contact a mortgage loan officer to find out.

How to qualify

  • Your income needs to be equal to or below the median income in the area you want to buy a home, or the property you are purchasing must be in a low-to-moderate income census tract. You can check median incomes by location.
  • In most cases, your FICO® Score must be at least 640 (or 680 if you’re interested in a property with more than one unit). Don’t have a FICO Score? The American Dream loan can build a score using alternative credit data like your monthly rent, utility payments, income and employment information.
  • Your monthly debts, including housing, need to be less than 43% of your income.
  • You have to contribute at least $1,000 to the home purchase.
  • You must complete a course on homebuying.

Want to learn more? Reach out to a mortgage loan officer.

If you’d like to learn more about the American Dream loan, contacting a mortgage loan officer is your next step. They’ll be able to show you how the American Dream loan compares to other mortgages and tell you about other assistance programs in your area.

See what it’s like to be a first-time homebuyer.

Whether you choose the American Dream loan or another mortgage, buying your first home is at once exciting and stressful. Watch how one couple approached the process.

Get answers to common questions.

Start of disclosure content


Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.

Start of disclosure content
  1. Estimated monthly payment and APR calculation are based on a down payment of 0% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. Estimated monthly payment and APR assumes that the VA funding fee of $6,072 is financed into the loan amount. Estimated monthly payment does not include amounts for taxes and insurance premiums. Estimated monthly payment does not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

  2. From the article “Before making a 20% down payment, read this”, published May 6, 2021, by Dan Green and The Mortgage Reports.

Start of disclosure content

The American Dream loan product offered by U.S. Bank is not the same as the American Dream Downpayment initiative administered by HUD’s Office of Community Planning and Development under the HOME Investment Partnerships Program.