EquityBuilder
Grow the equity in your home with Northpointe’s EquityBuilder loan program. Rather than using cash for a down payment, apply it towards a lower interest rate and shorter loan term resulting in lower total interest costs over the life of the loan.
Features:
- Zero down financing for loans up to $975,000
- Eligible for the purchase of primary single-family homes and condominiums
- Options for no monthly mortgage insurance utilizing a one time upfront payment
- Builds equity faster than a standard loan
- Less upfront cash to close
- Less total interest cost to finance your home
- Not limited to area median income
Annual Percentage Rate (APR) as of 2/15/2022 is based on an owner-occupied single-family residence with a credit score of 740, down payment of 3% (except EquityBuilder) with tax and insurance escrows. Base APR is quoted and may vary depending on individual credit history and transac?on. Payments do not include amounts for taxes and insurance premiums, the actual payment amount will be greater. Equity and cash to close estimates are estimates only. *The 30-year fixed-rate (APR) is 4.375%, based on a note rate of 4.705% with zero points, loan amount of $380,240 and requires 360 monthly principal and interest payments of $1,927.95. **The EquityBuilder initial payment on a 5-year adjustable-rate, zero down payment loan in the amount of $362,00 at a note rate of 3.750% with.75 discount point credit is $1843.29 principal and interest only payments and requires participation in Northpointe's automatic payment program. The Annual Percentage Rate (APR) is 4.227%. After the first five years, your interest rate can change every six months and is subject to an initial interest rate cap of 2.000%, a periodic rate cap of 1.000% and a lifetime cap of 6.000%. At the first adjustment, the interest rate cannot increase above 5.227% or decrease below 3.000%. If the interest rate reached the lifetime maximum cap of 10.227% your payment would be $3,559.86. Actual payment amounts will vary after the first five years based on changes in the index. All loans are subject to credit review and approval. Rates subject to change without notice. This is not a commitment to lend.
