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Northpointe Bank: 2022 Home Equity Review

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Northpointe Bank has been serving customers out of Grand Rapids, Michigan since 1999 and has since expanded its service area and options for customers across the US. Northpointe has been considered a top-performing bank by the Independent Community Bankers of America eight years in a row and was ranked number eight best performing bank in the nation by S&P Global Market Intelligence in 2020.
Northpointe Bank offers both home equity loans and HELOCs at low APRs, with flexible borrowing limits. Customers may receive a 0.25 percent discount when they set up automatic payments between their loan or line of credit and a Northpointe checking or savings account.
Whether you’re looking to improve your home, pay for education expenses or consolidate debt, a home equity loan or line of credit from Northpointe Bank might be an option.

Northpointe Bank snapshot

Loan types offered Home equity loan, HELOC
APR range HELOC: 3.5%
HE loan: 4.425%
Loan amount range HELOC: $10,000-$500,000
HE loan: $10,000-$250,000
Minimum credit score required Not specified
Repayment terms 5 to 30 years
Average time to approval Not specified


Northpointe Bank has a couple advantages when it comes to home equity products:

  • Both home equity loans and HELOCs: Unlike some lenders, Northpointe offers both home equity loans and home equity lines of credit (HELOCs) so that borrowers can choose the right loan product for them.
  • Interest-only payments: Northpointe’s HELOC offers the option of interest-only payments during the draw period.


In addition to its benefits, Northpointe Bank does have some downsides worth considering:

  • Lack of transparency: Northpointe provides some information about its home equity products, but it doesn’t disclose qualifications for borrowers, minimum draw requirements or time to approval.
  • Limited online capabilities: Northpointe doesn’t allow you to complete your loan application online. Instead, you fill out an online form that indicates you’d like to speak to a loan officer.

Types of fees charged

Northpointe doesn’t disclose the fees associated with its home equity products. According to the company’s website, there may be an annual fee on HELOCs. 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.

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.

How to qualify for a home equity loan with Northpointe Bank

Northpointe doesn’t disclose the minimum credit score or maximum debt-to-income ratio required for a home equity loan or HELOC. To find out if you’re eligible, you must fill out an online form to connect with a loan officer.

How to get started

To get started with applying for a home equity loan or HELOC with Northpointe Bank, you can either use the “Find an Advisor” feature on its website or fill out an online form to start the prequalification process. You’ll provide information such as your estimated credit score and desired loan amount. A loan officer will contact you to move the process to the next step.

How Bankrate rates Northpointe Bank

Bankrate Score 3.9 Scoring factors
Availability 3.2 Lacking information on availability and high minimum loan amount
Affordability 4.0 Low minimum APR but several fees
Customer experience 4.5 Online access, apps and 7-day customer support


To create our Bankrate Scores, we evaluated lenders based on availability, affordability and customer experience. Availability was assessed based on the minimum loan amount required, time to approval, days to close, minimum draw requirements, minimum credit score requirements and loan types offered. Affordability was assessed based on minimum APR, discounts and promotions offered and associated fees. Customer experience was assessed based on online application and account availability, customer support, auto payment availability and mobile app availability and ratings.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

Written by
Raija Haughn
Raija Haughn is an associate writer for specializing in personal and home equity loans. She is passionate about helping people make financial decisions that will benefit them long term.