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  • Loan Programs

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    • Conventional Loans

      Conventional home loans are typically those that conform to Fannie Mae or Freddie Mac guidelines.  They tend to be a lower cost option for many borrowers - especially if you are able to put 20% or more down - as there will be no mortgage insurance premium in your monthly payment.  When that type of payment is not affordable, a conventional loan can also be appealing because the borrower is often able to make a 3% or 5% down-payment.

    • Jumbo Loans

      A Jumbo home loan is one whose loan amount exceeds the loan servicing limits set by Fannie Mae and Freddie Mac.  That amount as of 2019, is $484,350 for a single family dwelling.  These are considered non-conforming loans as they do not conform to the government guidelines.  These loans also have a higher threshold for credit score, borrower's income, and reserves.

    • FHA Home Loans

      An FHA home loan is a loan that is insured by the Federal Housing Administration.  They are often a good choice for first-time home buyers as the guidelines for income and debt as less stringent.

      While these loans do require good recent credit scores (blemishes in credit history can be overcome with financial responsibility in recent years), borrowers can put down as little as 3.5% - all of which can be gifted from another party.

      FHA does require that the mortgage is the primary residence of the borrower and that the mortgage has insurance in the form of FHS's own Mortgage Insurance Premium (MIP).

    • VA Home Loan

      At Northstar Mortgage, we proudly support the men and women of our Armed Forces, both veteran and active duty.  It is our honor to assist you in getting the most out of your hard-earned and well-deserved VA Home Loan benefits.  A VA home loan is a mortgage that is backed by the Department of Veterans Affairs (VA), but money from private lenders that is backed by the VA.  These loans typically have no down-payment unless required by the lender, have competitive interest rates, and - unlike many loans - are assumable.

    • USDA Home Loan

      This is a flexible credit, 100% financing (no down-payment) home mortgage that helps buyers with moderate incomes qualify to purchase a home in eligible areas.

    • HomeReady Loan Program

      A HomeReady loan is a conventional loan offered by Fannie Mae that is meant to help low to moderate income borrowers buy a home or refinance their mortgage.  This is done by reducing the typical down-payment and mortgage insurance requirements.  There is also flexibility in where the down-payment money comes from.  This is beneficial if you have someone helping you with the down-payment on your home.