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Northstar Mortgage
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Northstar Home Mortgage, Inc. 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 (o.a.c.). 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, etc.

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

Subordinated 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.

Jumbos

NorthStar offers 30 and 15 year fixed rate mortgages and competitive ARM products with full documentation, alternate documentation, limited documentation, and no documentation.

Cash out and No cash out refinances are allowable. Single family detached, Condos, P.U.D.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 are stated income loans. There are several varieties of the "No Income Verification" 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. For them the "No Doc" loan is best suited to fit there needs. For others who may be willing to disclose employment and asset information but not income the stated or No Income Verification loan will be there best option. 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 documentation loans, there is definitely a mortgage program for today's non-conventional borrowers.

Fixed Rate Mortgages

With a fixed rate mortgage 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 can take advantage of a lower interest rate and can repay your loan in half the time. You could potentially save more than half the total interest costs of a 30-year loan.

Adjustable Rate Mortgages (ARMs)

A variable or adjustable rate loan is a 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 and the 10 year bond, are made to the interest rate. Usually there is an adjustment period set at the time of application of the loan. The adjustment period can range from a one month period to a one year period. The index for your particular loan is established at the time of application.


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