Northpointe Bank Mortgage Review 2023
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Our Take
4.5
Northpointe Bank offers rate-shopping convenience and plenty of loan options, including 100% financing.
Pros
- Offers government-backed FHA and VA loans, including refinancing options, and USDA loans.
- Jumbo loans available for vacation homes and investment properties.
- Offers programs for borrowers with credit challenges, self-employed borrowers and professionals early in their careers who may still carry significant debt.
Cons
- You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
- Origination fees are on the high side, according to the latest federal data.
- Doesn’t offer home equity loans or lines of credit.
Compare to Other Lenders
Full Review
What borrowers say about Northpointe Bank mortgage
NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To assess borrowers’ subjective experiences with lenders, NerdWallet has gathered customer satisfaction ratings from Zillow.
Northpointe receives a customer rating of 4.94 out of 5 on Zillow, as of the date of publication. The score reflects more than 4,125 customer reviews.
Northpointe Bank mortgage variety of loan types
5 of 5 stars
With licenses to lend in all 50 states and Washington, D.C., and branches in nearly two dozen states, Northpointe has an extensive loan selection, with virtually every option a typical borrower might seek. And while mortgage rates and fees are average at best, Northpointe also offers an alternative to the traditional 30-year fixed mortgage called EquityBuilder — a no-down-payment option with a shorter term that helps accelerate home equity accumulation.
Other noteworthy items on the giant mortgage loan menu: Northpointe offers physician loans in select states with no private mortgage insurance and loans for borrowers recovering from a major credit event.
Northpointe Bank HELOC and home equity loans
The lender also offers home equity loans and a home equity line of credit, or HELOC. These second mortgages are one way for homeowners to access existing home equity without refinancing or selling their home. Funds obtained with a second mortgage can be used for expenses such as home improvements, education costs or debt consolidation.
Northpointe Bank mortgage ease of application
5 of 5 stars
Northpointe’s website design is clean and easy to navigate. You can obtain an online loan application through email from a loan officer or through the Northpointe mobile application.
The mobile app not only facilitates the completion of a secure loan application, but it also allows you to manage the loan process by messaging your loan officer, uploading documents, e-signing disclosures and receiving status updates. It pings you when an item requires your attention.
Northpointe Bank mortgage rates and fees
2.5 of 5 stars
Northpointe earns 2 of 5 stars for average origination fee.
Northpointe earns 3 of 5 stars for average mortgage interest rates.
Borrowers should consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.
Northpointe Bank mortgage rate transparency
4 of 5 stars
Mortgage rates are easy to find on the Northpointe Bank website. From the home page, select "Home Lending," then "Low Rates" from the top menu bar, and you’ll see interest rates and APRs for four of its mortgage offerings.
To get a fully customized quote, you'll need to apply for pre-qualification or contact a loan officer.
Alternatives to Northpointe Bank mortgage
Here are some comparable lenders we review that borrowers can consider. Chase also offers borrower assistance such as grants, and Guaranteed Rate offers a similarly wide variety of loan options.
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More from NerdWallet:
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: variety of loan types (purchase, refinance, fixed and adjustable, for example), ease of application, rates and fees and rate transparency. Among the factors we consider when scoring these categories are options to apply for and track loans online, the level of detail about mortgage rates on lender websites and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These scores generate ratings from 1 star (poor) to 5 stars (excellent).
