Answer these questions to determine your next steps and get support along the way.

PROCESS

Are you familiar with the different steps that go into the homebuying process?

CREDIT & DTI

How would you rate your credit score and debt-to-income (DTI) ratio?

BUDGET

Do you have a clear idea of your budget for buying a home?

SAVINGS

Do you have savings set aside for a down payment and closing costs?

COSTS

Are you aware of the costs of homeownership, outside of the mortgage?

LOAN TYPES

How familiar are you with mortgage types (e.g., fixed-rate vs. adjustable-rate)?

Your homebuying readiness results

Based on your answers, we've created a checklist that indicates what you've already accomplished on your homebuying journey, and some of the concepts you may want to brush up on.

Your homebuying readiness
TOTAL Progress
You’re making great progress. Now might be a good time to prequalify.
Process
To do
  1. Homebuying timeline
  1. Understand the difference

Process, check! You're aware of what to expect during your homebuying journey and are prepared for what comes next.

Credit & DTI
To do
  1. Visit Annualcreditreport.com
  1. Brush up on your credit knowledge
  1. See how your score compares
  1. Know your debt-to-income ratio

Credit and DTI, check! You understand where your credit score and DTI are and how they can impact buying a home.

Budget
To do
  1. Visit the affordability calculator
  1. Visit the mortgage payment calculator
  1. Prequalify

Budget, check! You've run some numbers and have an idea of your homebuying budget.

Savings
To do
  1. Get tips on how to save for a house
  1. Read more about down payment amounts

Savings, check! You've got a plan to save for buying a home and are making your way toward a successful homebuying experience.

Costs
To do
  1. Prepare for closing costs
  1. Learn about escrow accounts
  1. Learn about mortgage points

Costs, check! You have a solid idea some of the costs you can expect as a homebuyer and a homeowner and can move forward with more confidence.

Loan types
To do
  1. Compare mortgage options
  1. Visit today’s mortgage rates
  1. Learn about affordable home loans
  1. Learn about mortgage APR
  1. Start your application

Loan types, check! You’ve got a clearer understanding of your options, setting yourself up to confidently choose a mortgage that fits your needs.

Congratulations!

You’ve taken charge of your credit, budget and savings, and you understand more about the costs of homebuying and home-owning. With a firm grasp of the process and loan types, you’re on a clear path to becoming a homeowner. Homebuying readiness: Check!

Save and share your progress
Your homebuying readiness
TOTAL Progress
Save and share your progress

Keep your progress going! Post this list in a handy location to refer to as you continue your homebuying journey.

Take the next step

Prequalify
Start your application
Find a mortgage loan officer
Call 888-291-2334
Start of disclosure content

Disclosures

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.

U.S. Bank, 800 Nicollet Mall, Minneapolis, MN 55402