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American Dream-US Bank

Program Overview

American Dream-US Bank is a loan that provides little or no down payment. This is a market-rate loan with no private mortgage insurance (PMI). May also be able to use a 0% deferred loan up to $3,000 to pay for down payment and closing costs. No minimum credit score required. Available in both Kansas and Missouri

Who is eligible for this program?

Minimum borrower investment of $500. Must document a relatively good payment history for the most recent 12 months from 3 sources. Talk with local US Bank Loan Officer for income and asset requirements. Is this program for first time buyers only? No

Property Eligibility Requirements

No income or asset requirements if property is located in a low-moderate income census tract. Allowable property types: Single Family, Multi-family, Condo, Manufactured Home, Townhome

Benefit Details

May be able to qualify for a 0% deferred loan up to $3,000 to pay for down payment and/or closing costs. Benefit: Loan is fixed-rate for either 15, 20, 25 or 30 years. Homebuyer Counseling / Education Required: Yes Owner Occupancy Required: Yes Other Program Comments: Must attend homebuyer education from an approved nonprofit organization. For more information, call your local US Bank Loan Officer.

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