Understanding your credit score is crucial for managing your finances, securing loans, and achieving your financial goals. Many consumers wonder, “How do I find my credit score?” and “Why is Credit Karma different than the mortgage company credit score?” In this post, we’ll dive into the methods for checking your credit score and explore the…

Securing a mortgage can feel overwhelming, but having the right Mortgage Documents at hand is a game-changer. Whether you’re a first-time homebuyer, self-employed, or already own a property, understanding which documents you need can help streamline your approval process. In this blog, we’ll break down the essential documents required for mortgage approval and provide tips…

At North Star Mortgage Network, we understand the diverse financial profiles of borrowers, especially those transitioning from W2 to 1099 income. Traditional mortgage programs often fail to accommodate the unique income structures of self-employed individuals and independent contractors. That’s why we offer a specialized 1099 Program tailored to meet the needs of these borrowers, providing…

Restricted Stock Units (RSUs) are a valuable form of compensation that many companies use to reward and retain employees. For individuals looking to qualify for a mortgage, understanding how RSUs function as part of income and how lenders assess them is crucial. What Are Restricted Stock Units? RSUs are similar to quarterly or annual bonuses…

When applying for a mortgage, lenders consider your total income to determine eligibility. If a portion of your income is non-taxable, lenders may “gross up” that income, increasing the effective amount used for qualification. This guide explains how to gross up non-taxable income and the requirements for different loan programs. What is Grossing Up Non-Taxable…

Why Mortgage Information Matters In today’s ever-changing housing market, having access to accurate and up-to-date mortgage information is crucial. Whether you’re a first-time homebuyer, an investor, or looking to refinance, understanding loan options, interest rates, and qualification requirements can help you make informed decisions. At North Star Mortgage Network, we provide the insights and guidance…

Are you looking to buy a home but struggling with the upfront costs? The Florida Bond Down Payment Assistance Program can help make homeownership a reality by providing financial support for eligible first-time homebuyers. What is the Florida Bond Down Payment Assistance Program? The Florida Housing Homebuyer Program offers a 30-year fixed-rate first mortgage loan…

One of the most common questions homebuyers ask is whether they can use gift funds for their down payment. The good news is, yes, you can! However, there are specific guidelines and documentation requirements to ensure compliance with mortgage regulations. At North Star Mortgage Network, we are here to help guide you through the process…