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Northstar Mortgage
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Northgage Mortgage Services

Construction Loans

Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 100% of the cost of land plus the costs of construction. We offer many different loan products for construction, including "one step" or "two step" closings.

Land Only

By providing flexible financing options that allow you to make land only purchases to, we are able to help you secure your plans for the future.

Refinance

NorthStar specializes in all types of refinance products. Good credit, challenged credit, high loan to values, no income verification loans, high cash out, no seasoning.

Purchases

Let our team help you get into your dream house. As a mortgage broker we are able to offer a wide range of loan products. The NorthStar team will be able to find the right loan to fit your needs.

2^nd Mortgages

Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Consolidate your debt, save money, and make your budget work.

Home Equity Lines of Credit

Access the equity in your home with a convenient Home Equity Line of Credit (HELOC). With low interest rates available, this loan offers you the cash to make home repairs, take a vacation, pay tuition or buy a car. It is up to you.

Payment Options Arms

This type of loan allows investors to use their money smartly to obtain their desired returns. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC.

Interest Only Arms

Our Interest-Only ARM loans can minimize your monthly payments or maximize the amount you qualify to borrow. Because your initial monthly payments are set to equal only the interest on your loan balance, it will be less than a traditional amortizing loan payment for any given interest rate and loan amount. For this same reason, the Interest Only loan amount that you can qualify for will be greater than with a traditional loan, and the full amount of your loan payment may be tax deductible (please consult your tax advisor).

Jumbos

Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

Cash out and No cash out refinance are allowable. Single family detached, Condo’s, PUD’s and single-family second homes can be financed with no prepayment penalty.

Stated Income Loans

Loans where your income is not requested or verified with as little as 10% down are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.

Fixed Rate Mortgages

With fixed rate mortgage (FRM) loan the interest rate and your mortgage monthly payments remain fixed for the period of the loan. Fixed-rate mortgages are available for 30, 25, 20, 15 years and 10 years. Generally, the shorter the term of a loan, the lower the interest rate you could get.

The most popular mortgage terms are 30 and 15 years. With the traditional 30- year fixed rate mortgage your monthly payments are lower than they would be on a shorter term loan. But if you can afford higher monthly payments a 15-year fixed-rate mortgage allows you to repay your loan twice as faster and save more than half the total interest costs of a 30-year loan.

Adjustable Rate Mortgages (ARM’s)

Variable or adjustable loan is loan whose interest rate, and accordingly monthly payments, fluctuates over the period of the loan. With this type of mortgage, periodic adjustments based on changes in a defined index are made to the interest rate. The index for your particular loan is established at the time of application.


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