Some eligible portfolio mortgage options may let borrowers apply without the income and employment verification commonly required with other mortgage applications. Depending on the program, income and employment may not be stated on the application, and a traditional debt-to-income calculation may not be used. These features vary by program and do not mean there is no underwriting or that approval is assured.
What the lender may still review
The lender reviews the complete application under the selected program. That review may consider credit history, available equity, assets and reserves, property value and condition, occupancy, existing liens, payment history, transaction details, and other required information. Ask which documents and costs apply before deciding whether to proceed.
Eligible occupancy depends on the program
Primary residence
Certain options may be available for an eligible home you intend to occupy as your primary residence.
Second home
Separate options may be available for a qualifying second home. Occupancy and use requirements apply, and rental use may affect eligibility.
Investment property
Investment properties are not eligible for the no-ratio options described here. Investor financing follows separate guidelines and is not covered by this offer.
Compare the full cost and requirements
Before choosing an option, compare the interest rate, points and fees, cash needed to close, payment terms, and any property or reserve requirements with other available financing. Program availability, documentation, terms, and state eligibility vary.
Compare other mortgage options or contact NorthStar Funding to discuss what questions to ask about your situation.
General information only. A discussion or application is not a commitment to lend or a guarantee of approval. All financing is subject to current program guidelines, property review, underwriting, and applicable law. Confirm written terms before making a decision.