- Enter your annual income.
- Enter your current monthly debt.
- Enter your down payment.
- Enter a state.
Affordable home loans
Get the lowdown on low down payment mortgages.
Our affordable mortgage options provide greater access to homeownership through down payment assistance and other exclusive benefits. Learn more and you may find that new home is within reach.
Browse affordable mortgage options from U.S. Bank.
There are a variety of home loan assistance programs that can make purchasing or maintaining a home more affordable. And because your needs are unique, we have options for different income levels and financial situations. Explore the features and benefits of each so you can make an informed decision about your future as a homeowner. You can also compare all mortgage loan options in one easy spot.
U.S. Bank American Dream loan
Works with other down payment and grant programs
- Down payment as low as 3% of purchase price
- Up to $10,000 in assistance funds
- Mortgage insurance paid by U.S. Bank
U.S. Bank Access Home Loan
Up to a $5,000 lender credit
- Down payment as low as 3% of purchase price
- Up to $12,500 in assistance funds
- Mortgage insurance paid by U.S. Bank
- Available in select locations
FHA loan
Lower credit score requirements
- Down payment as low as 3.5% of purchase price
- Flexible qualification guidelines
- Requires mortgage insurance
VA loan
No or low down payment options for military members
- Doesn’t require mortgage insurance
- Flexible qualification guidelines
- Simplified approval process
Crunch the numbers with our mortgage affordability calculator.
Determining your budget is a crucial first step in the homebuying process. Our mortgage affordability calculator can help you estimate your target purchase price based on the information you provide. You can calculate this based on your income or the amount you wish to pay each month.
Please fix the following items to continue:
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Annual income before taxes
Your annual income before taxes, or gross income, may be received as money, goods, property, or services.
Enter your annual income.
Monthly debt
Your monthly debt includes monthly required credit card payments, car payments, student loans, alimony and child support payments, any house payments (rent or mortgage) other than the new mortgage you’re seeking, rental property maintenance, and other personal loans with periodic payments. Don’t include everyday expenses like groceries.
Enter your current monthly debt.
Down payment
This is the cash you pay up front when you buy a home. The larger your down payment, the less you’ll need to borrow and pay back in interest.
Enter your down payment.
State
Choose the state where you’re thinking of buying a home.
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What's included in your estimated monthly payment:
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Affordability breakdown
Affordability breakdown
These ranges are based on what your debt-to-income ratio (or DTI) would be.
Affordable In this range, with a DTI from 0% to 36%, you’d be able to pay your monthly bills and still have money left for food and entertainment.
Stretch In this range, with a DTI from 36.1% to 43%, you’d likely be able to afford your monthly housing payments but it may take away from your other expenses or affect your savings.
Aggressive In this range, with a DTI from 43.1% to 45% or higher, you may be likely to miss payments if any unexpected expense occurs.
Affordable
Recommended
Stretch
Aggressive
Prequalification doesn’t affect your credit score.
Homebuying truths that might surprise you
Information about buying a home is abundant – and sometimes confusing. If you’re new to the process, here are a few truths you need to know.
Paying a higher down payment on a home can help you save money on interest in the long term. But you can pay as little as 3% of the home’s purchase price for a down payment. And you can find help to buy a home, like grants or special purpose credit programs.
See what it’s like to be a first-time homebuyer.
Our first-time homebuyer guide can help if you’re wondering how to prepare for buying a first home. Watch videos to learn about others’ first-time homebuyer experiences and how they made the dream of homeownership a reality.
Learn how they navigated buying their first home.
Spend a few minutes with Shavez and Rosa. Hear about their experience and how their goal of homeownership became a reality with the help of a U.S. Bank mortgage loan officer.
Find out how she purchased the home she’d rented for 15 years.
Get a glimpse of Melody’s experience going from renter to owner. Find out how she was able to use the U.S. Bank Access Home Loan to make it possible.
Our mortgage loan officers can answer your questions and help you through each stage of your homebuying journey.
Check out our homebuying resources.
Get answers to common questions about affordable home loans.
To determine how much you can comfortably afford, use our mortgage affordability calculator to estimate your target purchase price and monthly payment. Generally, lenders prefer your mortgage payment to be less than 28% of your current gross income. Therefore, it's important to plan for your monthly mortgage payments, insurance, ongoing expenses, as well as a portion of your down payment and closing costs.
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