This can be a major perk for buyers who want in-person help and guidance. Many major metropolitan areas have a Northpointe branch within driving distance. While Northpointe is based in Michigan (and has a concentrated presence there), it maintains a branch network throughout the U.S.
It lists its current rates for 15- and 30-year fixed-rate loans, 5/1 adjustable-rate mortgage loans, and 30-year construction loans. Northpointe doesn't provide customized rate quotes online, but it does provide a list of its current interest rates for well-qualified buyers. When a request was delivered our Loan Officer, Olivia Escalante, met every demand with. Northpointe offers several loan programs that allow the borrower to roll the costs of renovations or repairs into their mortgage. This process with Sprout Mortgage went smoothly from start to finish. Northpointe offers financing for new constructions with as little as 5% down, one of the lowest down payments for this type of loan we've seen. New Start: Mortgages designed for borrowers with adverse credit events on their file.SimpleLoan: Eligible loans can get a guaranteed closing within 15 business days.All In One loan: Combines a home mortgage of up to $2 million with a checking account designed to reduce the borrower's interest cost over the life of the loan.Here are a few of the options the lender provides: In addition to its zero-down loan products, Northpointe Bank offers several unique products designed to make homeownership easier and more affordable. These loans have shorter repayment terms, with the idea that they'll help borrowers build equity faster than the typical 30-year loan. EquityBuilder: This option provides $0 down payment loans for primary homes with loans up to $975,000.Doctor loans: This special program provides up to $1 million in zero-down financing for doctors who have recently signed employment contracts.Northpointe 100%: Buyers with a minimum credit score of 680 can use this loan program to buy a primary home with no money down.Most lenders offer 0% down payment loans in the form of VA or USDA mortgages, but Northpointe offers several proprietary mortgage options with no down payment. The median condo price is 340,000, up 13.1 YoY. The median single-family home price is 397,600, up 14.8 YoY. The median price for all types of homes is 391,200, up 14.8 from a year ago. The lender also offers several unique loan programs discussed below. Existing home sales (closed deals in April) fell 2.4 to an annual rate of 5.61 million homes, down 5.9 in the last 12 months. Jumbo loans (both fixed-rate and adjustable).
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