I am in the process of purchasing a home through US Bank. I am in a US Bank American Dream Loan which is suppose to help low-income buyers, like myself, obtain a mortgage. This is not what is happening with this loan product. I have been through this program two times and I still do not have a home. I have lost thousand of dollars because the bank does not explain, in details, the full process of the American Dream Loan. They do not tell me that any repairs are over {$4900.00} will turn the loan a rehabilitation loan. They do not tell me that if the amout of repairs over the appaisal value will have to come out of my pocket regardless of whether or not the repairs are under the {$5000.00} mark. They do not tell me the process for the American Dream Loan will take more than three months to complete because you have to find your own licensed contractor to do the work that bank is requiring. Why does n't the bank have a list of contractor who have worked with the program and bank to facilitate an easier process. None of this information was given to me at the time I applied the first time for the loan. It was only after 7 months of trying to purchase a home did US Bank give me this information along the way. Over the course of those 7 months did US Bank reveal to me pertinent information little by little. They are leaving information out to be spread over the entire process and this caused me to waste myr time and my money. I was not able to come up with an additional XXXX % when I had paid for all the prepaids and only had my 3 % down payment. Based on these scenarios, the American Dream Loan is not for low-income buyers. In my opinion and experience with the process, it seems that low-income buyers within the central city do not have a chance XXXX of completing this loan based on the housing condition in the central city. Most low income buyers are unable to get a conventional loan. The large number of affordable homes for myself in the area will need required repairs ( over {$4900.00} ) and these repairs are over the appraisal value ( which most will be ). This is my second time around in this loan program and I still can not get to closing. I just want to close on the property, pay my mortgage and live my life. US Bank should be ashame of leading low-income buyers on with this program while the buyer loses thousands of dollars. This program does not help the low-income buyer nor is the information about process of this program divulged to buyers. The American Dream Loan should be investigated. I am sure I am not the only buyer who is or has gone through this with US Bank 
