How to save for a house

From the “Tackling Home Financing and Down Payment Misconceptions”, published January 7, 2022 by the National Associations of REALTORS^® Research Group. 
https://www.nar.realtor/blogs/economists-outlook/tackling-home-financing-and-down-payment-misconceptions

How to obtain the rate: This rate is valid on new accounts for clients who do not have an existing consumer money market account or for clients with an existing consumer money market account that has been open for less than 30 days. This rate is not valid for clients with a consumer money market account closed within the last 30 days. Get the Annual Percentage Yield (APY) as noted above by depositing at least $25,000 within 30 days of account opening. A minimum opening deposit of $100 is required to open.

How to maintain the rate: Deposit at least $25,000 within 30 days of account opening and maintain a minimum daily balance of at least $25,000 each day thereafter. If the account balance falls below $25,000 the standard interest rate plan will be applied until the account balance is at or above $25,000 again. All rates and APYs are determined at the bank's discretion, are subject to change after the account is opened, and can change at any time. Fees will reduce your eligible balance, and deposits are needed to cover these fees to maintain the daily balance for this rate offer.

The following standard interest rate plan balance tiers and APYs are accurate as of today's date: Under $10,000: 0.01%; $10,000 to $24,999.99: 0.01%; $25,000 to $49,999.99: 0.25%; $50,000 to $99,999.99: 0.25%; $100,000 to $499,999.99: 0.25%; $500,000 and above: 0.25%.

Interest Information: You must maintain the minimum daily balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. Interest will be compounded daily and credited to your account monthly. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for this account. If you close your account before interest is credited you will not receive the accrued interest. Fees could reduce earnings on the account. Other restrictions may apply.

FDIC insured to the maximum allowed by law.

$1,000 minimum opening deposit up to a maximum of $250,000. 

Online application is not valid for single maturity CDs, business or retirement CDs, brokerage deposits, institutional investors, public funds or in conjunction with other promotional offers.

Offer good for the initial term only. CD is automatically renewed for the same term. The rate is determined based on the published rate for the CD, excluding CD Specials, that is closest to but not exceeding the term of the CD. Advertised rate and APY are offered at the bank's discretion and may change daily.

Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. All interest payments for the APY will be made at the end of the term or annually, whichever occurs first. Penalty will be imposed for early withdrawal. Fees could reduce earning on the account.

The interest rates and APYs for the Bank Smartly® Savings account are variable, determined at the bank’s discretion, and can change at any time. Eligibility for an interest rate bump: The interest rate bump is applicable for U.S. Bank Smartly® Savings when at least one account owner maintains an open and in good standing eligible product (Bank Smartly® Checking or Safe Debit account). Bank Smartly® Savings accounts without an eligible product will earn the standard variable interest rate shown above. Smart Rewards® enrollment is not required to qualify for this benefit. The interest rate bump is determined by the combined qualifying balances, as shown above. How is the combined qualifying balance calculated: Consumer deposits, U.S. Bancorp Investments* and personal trust** accounts, where the account is open and you are an account owner, are included in the combined qualifying balance. Note: Balances in business accounts, commercial accounts, and the Trustee only (IFI)*** client relationship do not qualify. The Combined Qualifying Balance is calculated separately for each account owner monthly. For Bank Smartly® Savings accounts with multiple owners, the owner with the highest combined qualifying balance will be used to determine the interest rate bump balance range. First, the average monthly balance for each qualifying account is calculated separately by adding together the end of day ledger balance for every day in the month and dividing the total by the number of calendar days in that month (or days since account opening within that month). Next, for each month, the average monthly balances for every qualifying account are added together. The Combined Qualifying Balance used to determine the bump interest rate is calculated by adding together the monthly totals for the previous three months and dividing by three (or the number of months available if less than three). How is the interest rate bump determined: The initial interest rate bump will be determined by the combined qualifying balance the business day after the Bank Smartly® Savings account is opened and the eligible product verification is completed. The interest rate bump is added to the standard interest rate to calculate the interest rate applied to the entire account balance in the eligible Bank Smartly® Savings account generally within five business days from account opening. The initial interest rate bump will be valid until the next monthly balance review on the first calendar day of each month. The interest rate bump will be adjusted monthly for any changes in qualifying balances and will be valid through the following calendar month. If the Bank Smartly® Savings account is closed, the interest rate bump will cease immediately. If the required eligible product (Bank Smartly® Checking or Safe Debit account) is closed but the Bank Smartly® Savings account remains open, the interest rate bump will remain valid until the end of the calendar month.