How to save for a down payment
When you’re ready to buy a home, having a higher down payment can save you money in the long run. If you plan to buy in the near future, setting money aside now for a down payment can only help.
How to build credit to buy a home
Credit score is a pretty big deal when it comes to buying a home. While you don’t have to have perfect credit to get a mortgage, the higher your credit score, the more choices and better rates you’ll have.
Preparing to buy
How much house can I afford?
A standard rule for lenders is that your monthly housing payment should not take up more than 28 percent of your income. However, home affordability is about more than just how much you can borrow.
The mortgage process
Mortgage pre-approval vs. prequalification – what’s the difference?
Prequalification and pre-approval can boost your confidence and could make house hunting easier – but it’s important to understand the difference between prequalification and pre-approval, and when to do which.
Closing on your house
How much are closing costs?
Closing is the last step in the home-buying process. Closing happens in a meeting between a combination of the buyer, the buyer’s agent, the seller, the seller’s agent and a closing agent.
Common FAQs for first-time homebuyers
You could qualify for first-time homebuyer benefits even if you’ve owned a home before. There are several programs and benefits that could include low down payment options, down payment assistance, but your credit score is definitely one factor that lenders consider. You could qualify for a U.S. Bank local or state grants and more.