Mortgage Loan Programs
Browse mortgage loan programs by purpose, then review the details that may help you prepare for a conversation with a licensed mortgage professional.
First-Time Home Buyer Mortgage Guidance
A first-time home buyer mortgage review starts with your budget, purchase timeline, and documentation. Before choosing a home, separate what you can comfortably spend from what a lender may approve. Your income, savings, debts, credit history, property, and loan terms all affect the discussion. First-time home
Fixed Rate Mortgage Loans (FRM)
Fixed rate mortgage loansFixed rate mortgage loans keep the interest rate set at closing for the scheduled loan term. That makes the principal-and-interest portion of the payment predictable, which can help a household plan for a purchase or refinance. The total housing payment can still change if property taxes,
Mortgage Loan Planning
Mortgage loan planning becomes easier when you can explain your goal, the facts already known, and the questions still open. Use this guide to prepare a focused first conversation and find the topic that needs closer review. A product name is useful only after the borrower, property, and financing purpose are und
Home Possible Mortgage Planning
Home Possible mortgage planning begins with the property address, your income outline, and a clear plan for purchase funds. Home Possible is Freddie Mac’s low-down-payment mortgage option. However, whether it fits your transaction depends on current program requirements, lender review, and the complete borrower
HomeReady Mortgage Planning
HomeReady mortgage preparation starts with understanding your income, the property you want to buy, and the money available for closing. HomeReady is a Fannie Mae mortgage option; whether it fits your situation requires a current review of the complete borrower and property file. HomeReady mortgage income and
Home Loan Refinancing
What refinancing changes Home loan refinancing replaces an existing mortgage with a new loan. The goal may be a different rate or term, a change to the monthly payment, access to equity, or a change in loan structure. A lower payment alone does not prove that refinancing saves money: extending the repayment term
Jumbo Mortgage Loan Options
A jumbo mortgage finances an amount above the conforming loan limit for the property’s county. Eligible borrowers can use jumbo financing for a primary residence, second home, or other property type when the lender’s program permits it. NorthStar Funding reviews jumbo mortgage options with eligible borrowers
Reverse Mortgage Loans
How reverse mortgage loans work Reverse mortgage loans let qualifying homeowners borrow against part of the equity in their home. Depending on the loan, funds may be received in a lump sum, through scheduled payments, or as a line of credit. Interest and fees are generally added to the balance, so the amount owe
Veterans Administration Loans
VA Home Loan OptionsVA home loans are available to eligible veterans, service members, and in some circumstances surviving spouses. The Department of Veterans Affairs sets program rules, while a lender reviews eligibility, income, credit, assets, occupancy, property, and documentation for the individual loan file