US Bank offers home mortgages to a variety of customers looking for a new home. The bank makes it easy for customers to find a loan with their easy online service, and their personalized loan services. Since pre-qualification is one of the most important aspects of any mortgage, US Bank makes it possible for buyers to get online and fill out an application to pre-qualify in minutes. Once the application is submitted, it takes only a few more minutes for your response. This response tells you what you’re qualified for, how much you can borrow, and the rates you can receive if you choose to go through with a US Bank mortgage.
Pre-qualification is important. It’s the step that allows you to find a home faster. Many sellers won’t entertain offers without a pre-qualification from the buyer, and many agents won’t take a buyer shopping for a new home without preapproval for a loan from the bank. Agent’s time is valuable, and they’re not in the market to waste it showing homes to those who aren’t serious. Preapproval ensures agents are showing their customers what they can afford, and that their customers are serious about their search for a new home.
What Mortgages Are Available?
US Bank offers several mortgage options for every buyer. There is nothing that says you can’t buy a home simply because you live on a fixed income, low income, or you have no down payment. Traditional mortgages are always available for the conventional buyer, but there are programs available to those who can’t afford a down payment or a traditional mortgage.
- Conventional mortgages are available with fixed rates for customers who want to pay off their mortgage in 30-years with the same payment each month.
- Adjustable rate mortgages are available to any buyer who is fine with their interest rate changing periodically over the life of their loan.
- Jumbo mortgages are available for all applicants interested in homes that cost over $417,000.
- FHA loans are available to any applicant with less than perfect credit, no down payment, or a very small down payment available.
- VA loans are available for anyone with wants to buy a home with low or no down payment, no mortgage insurance, and qualification guidelines that are very flexible. You must be a member of the armed forces now or in the past.
- Construction loans are available for anyone who has a home to build.
US Bank offers other loans for various purposes, including loans for those who want to purchase an investment property. It’s easy to qualify, and it’s easy to work with the lenders here. The sheer number of loan types available make it easy for buyers to find the loan they want, and the loan officers working here make it easy for buyers to feel comfortable with their lenders.
The best way to qualify for any mortgage is to get your credit in check. You’ll need to check the report, fix any mistakes listed on it, and pay off as many debts as you can. The better your score, the better interest rate you’ll find offered. You want to have the best rates for the best mortgages available. It helps you afford more house and fewer fees, which is something all homebuyers find important. Let US Bank help with your next mortgage, because they are good at what they do and have a stellar reputation for helping their customers get the best possible rates and terms on their new mortgages.