Northpointe Bank: 2024 Home Equity Review
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At a glance
NMLS: 447490
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
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Loan amount
$10,000-$500,000 for HELOC; $10,000-$250,000 for home equity loan
Min. credit score required
Not specified
Repayment terms
5 years to 30 years
Funds available in
Not specified
Benefits
- Unlike some home equity lenders, Northpointe Bank offers both home equity loans and HELOCs.
- The bank’s HELOC includes the option of interest-only payments during the draw period.
Drawbacks
- Northpointe Bank provides some information about its home equity products online, but doesn’t disclose minimum eligibility criteria for borrowers nor minimum draw requirements.
- The bank doesn’t allow you to complete your loan application online. Instead, you’ll need to fill out an online form to proceed with connecting to a loan officer.
Home equity loan products offered
Northpointe Bank offers both home equity loans and HELOCs. Its home equity loans offer a lump-sum payment and a set repayment period. Its HELOCs only require interest payments during the draw period, which is followed by a repayment period.
Types of fees charged
Northpointe Bank doesn’t disclose the exact fees associated with its home equity products online. You might be subject to an annual fee on HELOCs, however, and the bank also charges a $9.95 fee for one-time payments made over the phone, a 2.9 percent fee for one-time payments made with a credit or debit card and a $3 fee for payments made with MoneyGram. Insufficient funds fees vary by state.
How to qualify for a home equity loan with Northpointe Bank
To find out if you’re eligible for a home equity line of credit or loan with Northpointe Bank, you’ll need to first fill out an online form, then discuss your options with a loan officer.
How to apply with Northpointe Bank
To get started with applying for a home equity loan or HELOC with Northpointe Bank, you can either use the “Find a Loan Advisor” feature on its website or fill out an online form to start the prequalification process. A loan officer will then contact you to move the process to the next step. If you have a general question, you can contact the bank at 888-672-5626 Monday through Friday between 8 a.m. and 6 p.m. ET.
How Bankrate scored Northpointe Bank
| Affordability | 3.2/10 |
|---|---|
| Availability | 8.8/10 |
| Borrower experience | 7.7/10 |
Northpointe Bank/MTG customer ratings and reviews
NMLS: 447490
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