What Is the Process for Getting a USBank Mortgage?

Written by: Mike Valles

You can buy your new home or investment property with a USBank Mortgage. The bank is ready to help you through each step of the mortgage process so that you get the right one for your new home. Here are some steps to help you get the right mortgage.

Learn All about Mortgages

US Bank has a Mortgage Education webpage that lists a few articles for home buyers to help them understand what they need to know about getting a mortgage. Another webpage provides links for information that will be especially valuable for first time home buyers, including articles dealing with mortgage payment options, taxes, what you will need when you apply for a USBank Mortgage, closing costs, and much more.

Determine Your Price Range for a Home

There are two ways to do this. If you are ready to get started in applying for a USBank Mortgage, you will want to get pre-qualified for a mortgage. This will let you know how much of a mortgage you qualify for and it will help real estate agents and sellers to be more interested to talking to you.

The other option, if you just want to experiment with numbers but aren’t sure you are ready to buy yet, is to try calculating on a mortgage qualification calculator to see if you qualify for a mortgage. You can also find a mortgage payment calculator, which will give you an idea of your payment with various mortgage sizes.

Find a Home and Make an Offer to Purchase

Once you are prequalified and you find a home that you want to buy, you need to make an offer to the buyer. After they accept it and you present it to the bank, you will also need to sign and present to the bank an “Intent to Proceed” form, funds for an appraisal, and necessary fees (if applicable). The bank will then ask for additional paperwork, which you will need to locate and supply to the bank. This includes a number of financial documents, tax records, monthly expenditures, and other personal information.

Choose the Type of Mortgage You Need

You also need to choose the type of mortgage you want. The US Bank offers mortgages that are fixed rate, adjustable rate, or jumbo. They can also help you obtain a FHA or VA loan for your home, too. If you are not sure which one is best for you, the bank Loan Officer will be glad to talk to you about the various USBank Mortgage options that they offer.

Be Ready for Closing Costs

When it comes time to close the deal on your new home, you will have to go to closing and have your checkbook handy. There will be various costs associated with the closing, and it could be several thousand dollars. Closing costs may include an origination fee, discount points, a title search fee, recording fees, and more.

USBank offers other services in the way of home loans, too. They are part of the government’s Making Home Affordable Program, which is for those who are having difficulty in making their current mortgage payments, or are already behind – and are possibly facing foreclosure. They offer loan modifications or refinancing to help people in this situation.


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What Is the Process for Getting a USBank Mortgage?

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