American dream loan program

The home must be your primary residence and must be used for residential purposes only. In determining the amount of any assistance, the program requires that all reasonable available assets of the applicant be applied towards the down payment. Applicants must qualify for a mortgage. The mortgage shall be for the maximum amount the household can afford. A Program Agreement must be signed, verifying your knowledge and understanding of program requirements.

American Dream Program. Contact Us. Bank National Association. Deposit products are offered through U. Member FDIC. Equal Housing Lender. Skip to main content.

About us Financial education. Support Locations Search. Before you go, be sure you know: This link takes you to an external website or app, which may have different privacy and security policies than U. You are here:. Down payment assistance programs Learn how a down payment assistance program could help make your dream of homeownership a reality.

Share this article:. What is down payment assistance? Get a glimpse into how down payment assistance programs work. We can help you get past the down payment hurdle. Ready to make your dream of homeownership a reality? Owning a home is a path towards wealth creation and financial stability, but too often people get left behind.

Our team aims to break through traditional barriers to fight for the underdog, and give everyone a shot at owning their own home. Mortgage requirements have grown more restrictive while our financial lives are more complex than ever. Make homeownership accessible to everyone. You must file all tax returns including and submit proof you paid any taxes due or have an approved payment plan with the IRS.

For a bankruptcy, you must wait 12 months after the discharge date before joining The American Dream Program. For a foreclosure or deed in lieu, you must wait 24 months. We are not a mortgage lender and acceptance into the Program does not guarantee future mortgage-approval. However, as part of the approval process, your application is reviewed to see if there is a path to mortgage-readiness over the next 12 months.

However, we understand circumstances change. Things happen. That is why your lease contains a renewal option. While we want to see all of our clients purchase their home in the next 12 months, you may renew your lease and purchase contract if needed.

You are free to upgrade the landscaping, paint the walls, install new carpet, etc. Major construction involving structural changes is not permitted. You need to buy your Dream home first. Yes, pets are allowed but they must be listed in the lease. Certain pets may be excluded due to insurance restrictions or community standards. We are thrilled that you have taken the first step towards homeownership! What is your FICO credit score? Message 1 of 8. All forum topics Previous Topic Next Topic.

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