Northpointe Bank Mortgage Review

Variety of loan types

Northpointe offers several loan options:

  • Conventional loans
  • Jumbo loans (fixed and adjustable rate)
  • FHA Loans
  • AV loans
  • USDA Loans
  • Unsecured Condo Loans
  • Investment real estate loans
  • Home Equity Loans

The lender also offers several unique loan programs described below.

0% down loan options

Most lenders offer 0% down payment loans in the form of VA or USDA mortgages, but Northpointe offers several exclusive no-down payment mortgage options.

  • North Point 100%: Buyers with a minimum credit score of 680 can use this loan program to purchase a principal residence with no down payment.
  • Doctor loans: This special program offers up to $1 million in funding with no down payment to physicians who have recently signed employment contracts.
  • EquityBuilder: This option offers $0 down payment loans for primary residences with loans up to $975,000. These loans have shorter repayment terms, with the idea that they will help borrowers build equity faster than a typical 30-year loan.

Innovative products

In addition to its no down payment loan products, Northpointe Bank offers several unique products designed to make home ownership easier and more affordable.

Here are some of the options offered by the lender:

  • All-in-one loan: Combines a residential mortgage of up to $2 million with a checking account designed to reduce borrower interest costs over the life of the loan.
  • SimpleLoan: Eligible loans can obtain a guaranteed close within 15 business days.
  • New start: Mortgages designed for borrowers with adverse credit events on their record.

Construction loans

Northpointe offers new construction financing with as little as 5% down, one of the lowest down payments for this type of loan we’ve seen.

Rehabilitation and renovation loans

Northpointe offers several loan programs that allow the borrower to build the cost of renovations or repairs into their mortgage.

Pricing transparency

Northpointe does not provide custom quotes online, but does provide a list of its current interest rates for qualified buyers. It lists its current rates for 15 and 30 year fixed rate loans, 5/1 adjustable rate mortgages and 30 year construction loans.

Branch network

Although Northpointe is based in Michigan (and has a concentrated presence there), it maintains a branch network across the United States. Many major metropolitan areas have a Northpointe branch within driving distance. This can be a major advantage for buyers who want in-person help and advice.

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