Find your way home.

As a first-time home buyer, you have an exciting journey ahead. We know applying for your first mortgage loan and navigating a complex housing market can be daunting. At U.S. Bank, we want your first home purchase to be a rewarding experience and we’re here to help first-time home buyers any way we can.

Your mortgage loan officer can answer any questions you may have along the way. In the meantime, here's some practical advice to get you started on the right path to buying your first home.

Plan your move

How much house can I afford?

It’s not uncommon to “qualify” for more mortgage than you may comfortably be able to afford — so it pays to borrow cautiously. Here’s some simple advice with links to mortgage rates and easy-to-use mortgage calculators that will help you determine how much you could afford.

Is buying a better option than renting?

There’s a right time to rent and a right time to buy. Find out whether you’re ready for the journey to homeownership and your first mortgage with these clear pros and cons for renting vs. buying.

What’s the difference between prequalification and pre-approval?

Both prequalification and pre-approval show you’re a serious buyer — one gets you started and the other makes it official. It’s important to understand when to do which.

FHA or conventional mortgage?

While there are many mortgages to consider, government backed FHA and conventional mortgages are very popular choices.

What should be my down payment on a new house?

A down payment demonstrates your commitment and a larger down payment could help you secure a better interest rate — which means you’ll have lower monthly mortgage payments.

What is down payment assistance?

Across the United States there are down payment assistance programs offered through the government and housing agencies. The availability and qualifications can be different depending on the location of the property.

What is an Escrow Account?

An escrow account may be set up by your lender to place part of your monthly payment into the account for some of the costs associated with your home ownership.

Check it out! We have an affordability calculator that will help you determine how much you could afford. Start calculating.

More about mortgages

What are the different types of mortgage loans?

Fixed-rate loans, ARMs, FHA loans, VA loans, jumbo loans — the list may seem long, but it may be in your best interest to become a knowledgeable first-time home buyer and understand your loan options.

What are mortgage points?

Some home buyers get lower payments by paying a percentage of interest up front. This option, called “buying points,” can lower your interest rate and monthly payments — but it may not be right for everyone.

What is mortgage APR?

The Annual Percentage Rate helps you compare payments and total cost between mortgage offers — it’s just one of the many factors to consider when shopping for a mortgage loan.

How does my credit score affect my mortgage rate?

Good payment habits and a good credit score can mean a lower mortgage rate — and if your credit score isn’t what you want it to be, you can improve it over time.

What documents are part of the mortgage process?

Now is the time to get organized. As a home buyer you’ll be required to prove things like how much you earn, where you’ve lived, monthly debts and account balances.

Ready to get started? See if you pre-qualify. It’s fast and free, and it won’t affect your credit score.

Close the deal

How do I make an offer on a house?

Making an offer on a house is a formal process, which is why it may be helpful to have a competent, experienced real estate agent on your side. Here are some tactics to discuss with your real estate agent.

What happens at a mortgage closing?

“Closing” is the last step in the home-buying process. It’s where all the parties get together to finalize the transaction by exchanging signatures, checks — and ultimately, house keys.

When can I refinance my mortgage?

Contact a U.S. Bank Mortgage Loan Originator to discuss your goals and compare all of the refinancing options that are available to determine what loan product may best suit your needs.

Need help? Call us at 877-303-1637 to talk to a mortgage loan officer today.