WHY CHOOSE NORTHGROUP
NorthGroup Mortgage is your trusted local partner, offering tailored lending solutions for your next real estate transaction.
Mortgage Solutions You can Count On
Conventional Loans
5% down payment, 3% down payment for first-time home buyers
Minimum credit score of 620
Gift funds and seller concessions up to 6%
HomeReady™ - Homepossible™
Manufactured Homes with a Minimum 640 FICO Score
FHA Loans
3.5% down payment
580 Minimum FICO score
FHA Streamlines without appraisal in most cases
Manufactured homes 580 minimum FICO score for purchase and refinance
USDA Rural Development Loans
0% downpayment options
Minimum credit score of 580
100% closing costs can be gift funds
VA Loans
No down payment required
Minimum credit score of 580
Loan amounts up to $2M
Not Limited to first-time home buyers
VA IRRRL- No income asset documentation required and no appraisal in most cases
Niche Programs
Asset Depletion
Foreign Nationals / ITIN
Bank Statement Loans
Renovation / 203(K) Loans
One Time Close Construction Loans
Jumbo Loans
Mortgage Tax Credit
Down Payment Assistance
Non-Warrantable Condos
No Income No Ratio
Purchase/Rate term/ Cash Out
Minimum credit score 620 w/ Max LTV
50%Minimum credit score 720 w/ Max LTV 80%
ITIN
No qualifying FICO score required*
Max LTV: 70% for Purchase and Rate/TermCash-Out
DSCR
No income verificationPurchase/Rate term/
Cash out
Minimum credit score 620 w/ Max LTV 65% for purchase 50% for cash out
Minimum credit score 740 w/ Max LTV 85% for purchase 75% for cash out
First time investors are eligible with minimum 680 credit score
Gift funds are allowed
6% max seller concession
Bank Statement
12/24 Personal or Business Bank Statement
Minimum credit score 660 w/ Max LTV 80% for purchase O/O
Minimum credit score 700 w/ Max LTV 90% for purchase O/O
Capped Max LTV 80% LTV for cash out down to 660 credit score
HELOC
Lien position- Max of 3rd lien positionTerms -10,
15, 20, 30
Amount Range-$25k $750kCredit min.Primary:
640
Secondary : 680
CLTV max (Primary ) 85%CLTV max (Secondary)
70% 2nd Lien 80% 1st Lien
CLTV max (3rd lien) 70%Debt-to income <50%
MAX 20 ACRES
90 DAY SEASONING ON TITLE
DPA
Minimum credit score 620
Max DTI 49.99% w/ DU Approval
DPA is in the form of a forgivable grant in the amount of either 2% or 3.5% of the purchase price.
Eligible properties-
SFR, Singlewide, Doublewide, condos that meet all HUD requirements
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NorthGroup Mortgage
(833) 682-3503
