Huge Range of Mortgage Options

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Northpointe Bank mortgage interest rates

Northpointe Bank displays sample mortgage rates for its 30-year and 15-year fixed-rate conforming mortgages, its 30-year fixed-rate construction mortgages, and its 5-year ARMs. If you want to get a customized rate quote, you’ll need to call Northpointe or fill out an online form to get pre-qualified.

Northpointe Bank vs. PNC Bank

Both of these lenders are solid options for buyers looking for affordable mortgages. PNC Bank offers a PNC Community Loan mortgage, which allows eligible borrowers to put as little as 3% down without having to pay for mortgage insurance. PNC Bank also offers closing cost grants up to $5,000 for borrowers who meet income limits.

Northpointe Bank allows even lower down payments on a few of its mortgages, including its Northpointe 100% and EquityBuilder mortgages, both of which allow 0% down payments. If putting down as little as possible is your main goal, Northpointe might be a better fit for you. But PNC’s Community Loan is also a good deal, and could be a good choice if you want to make a small down payment while avoiding mortgage insurance.

Northpointe Bank vs. Guild Mortgage

Guild Mortgage is a lender that, like Northpointe Bank, offers unique mortgage options for borrowers who want something other than a standard mortgage. Both lenders also rank high in customer satisfaction, and both can help connect you with state or local down payment assistance programs.

Because these two lenders are fairly similar, the best fit may come down to which one offers the mortgage you need. If they both have what you’re looking for, it might be worth it to get preapproved with both to see which offers the better deal.

How Northpointe Bank mortgages work

Northpointe Bank originates mortgages in all 50 states and Washington, DC. It also has physical branches in 25 states.

Northpointe Bank offers an unusually large variety of mortgages. It has more traditional mortgage options, including conforming, FHA, VA, USDA, and jumbo mortgages. It also has loans for specific situations, including construction, renovation, doctor, professional, and investment property mortgages, land loans, home equity loans and HELOCs, and mortgages for non-warrantable condos. It even offers some programs that are unique to Northpointe Bank, including:

• All In One: Combines your mortgage with a Northpointe Bank deposit account, making it easy for you to make additional payments toward your mortgage principal
• New Start: For borrowers with a recent negative event on their credit reports. Northpointe doesn’t specify which “significant credit events” it allows, but this typically refers to things like defaults and bankruptcies. You’ll need a 660 credit score and a 20% down payment to qualify
• Simple Loan: Close in 15 business days or less
• EquityBuilder: Lets you put 0% down and instead use your down payment funds to get a lower rate or shorter term
• Northpoint 100%: Put 0% down with a minimum credit score of 680
• Expanded Portfolio: This includes mortgages for those who don’t quite meet the requirements for a conforming mortgage, borrowers with negative events on their credit reports, and investors looking to qualify based on the income of the property they’re purchasing

On Northpointe’s conforming mortgages, borrowers can put as little as 3% down if they qualify for a Fannie Mae HomeReady mortgage, which is targeted at borrowers who earn 80% or less of the area median income. You can use Fannie Mae’s lookup tool to find out what the area median income is in your area. If you don’t qualify for HomeReady, you’ll need to put 5% down to get a conforming mortgage.

You can apply for prequalification with Northpointe Bank by filling out an online form. You can also get started over the phone or by using its “find a loan advisor” tool to contact a loan officer near you. The bank’s customer service line is open Monday through Friday from 8 am until 6 pm ET.

Is Northpointe Bank trustworthy?

Northpointe Bank currently has an A+ rating from the Better Business Bureau. BBB grades are based on honesty in advertising, transparency about its business practices, and effectiveness in responding to customer complaints.

On its Zillow lender profile, the bank is highly rated by previous customers, earning an average 4.94 star rating.

Northpointe Bank Mortgage FAQ

What are Northpointe Bank’s mortgage rates?

Northpointe Bank displays a few sample rates on its site, but you’ll need to apply for prequalification or speak to a loan officer to get a custom rate quote.

What credit score do you need for Northpointe Bank’s mortgages?

Because Northpointe Bank offers such a wide range of mortgages, the

credit score

you’ll need to get approved with this lender can vary depending on the type of mortgage you’re looking for. If you’re getting a traditional, conforming mortgage, you’ll need at least a 620 credit score.

Where is Northpointe Bank located?

Northpointe Bank is headquartered in Grand Rapids, Michigan, and has branches with loan officers in 25 states, including Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Kentucky, Massachusetts, Michigan, Nevada, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington. It originates mortgages in all 50 states and Washington, DC.