Life happens, and sometimes financial setbacks can put homeownership dreams on hold. If you’ve recently completed a short sale, deed-in-lieu of foreclosure, bankruptcy, or foreclosure, you might think buying a home again is years away. However, as a rebounding home buyer, you have options to get back on track and into a home sooner than you may have thought possible—and North Star Mortgage Network is here to help you every step of the way.

Who Is a Rebounding Home Buyer?

A rebounding home buyer is someone who:

• Has experienced a financial hardship such as a short sale, deed-in-lieu of foreclosure, bankruptcy, or foreclosure.
• Wants to purchase a new home to live in before the mandatory waiting periods outlined by secondary mortgage market guidelines.

To qualify for a loan as a rebounding home buyer, the following criteria must be met:

• Re-established Credit: You’ll need to show that you’ve worked to rebuild your credit profile.
• Sufficient Income: You must have the income necessary to support your new debt.
• Down Payment: A minimum down payment of 20% of the home’s purchase price is required.

Loan Features and Terms

At North Star Mortgage Network, we’ve designed a loan product specifically for rebounding home buyers, offering:

• Maximum Loan Amount: Up to $806,500
• Minimum Beacon Credit Score: Evaluated on a case-by-case basis
• Maximum Loan-to-Value (LTV): 80%
• Property Type: Primary residence only (owner-occupied)
• Loan Product: 5/6 Adjustable Rate Mortgage (ARM)

These terms are crafted to meet the unique needs of rebounding buyers, allowing them to secure financing and move forward confidently.

Why Choose North Star Mortgage Network?

1. Specialized Expertise

At North Star Mortgage Network, we understand the challenges and opportunities facing rebounding home buyers. Our team has the knowledge and experience to navigate the complexities of your situation and find the right financing solution for you.

2. Tailored Solutions

Every financial story is unique, and so are your needs as a rebounding home buyer. We work closely with you to craft a loan package that aligns with your goals and financial standing.

3. Fast and Seamless Process

We know how important it is for you to move forward. That’s why we’ve streamlined our process to make it as smooth and efficient as possible.

4. Community Trust

North Star Mortgage Network is a trusted name in the community, known for our dedication to helping individuals and families achieve their homeownership dreams—even after financial setbacks.

Get Back on the Path to Homeownership

If you’re ready to take the next step as a rebounding home buyer, North Star Mortgage Network is here to help. With our tailored loan options, personalized service, and commitment to your success, we’ll guide you through the process and help you secure your next home.

Don’t let the past hold you back—let’s make your homeownership dreams a reality. Contact us today or visit www.nsmn.com to learn more and get started!