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…

When it comes to purchasing a home, one of the biggest hurdles many buyers face is saving for a down payment. What many don’t realize is that they may have access to a significant financial resource— their retirement savings. If you’re considering buying a home and wondering whether you can tap into your retirement accounts,…

Securing a mortgage can sometimes be challenging, especially if your income or credit profile falls short of lender requirements. Fortunately, a non-occupant co-borrower can help you qualify for a mortgage by adding their income and credit strength to your loan application. At North Star Mortgage Network, we specialize in helping borrowers navigate financing options, including…

For many prospective homeowners, the biggest hurdle to buying a home is the down payment. The Freddie Mac Home Possible® mortgage is designed to help very low- to low-income borrowers achieve the dream of homeownership with flexible financing options and competitive pricing. Key Benefits of the Home Possible Loan Low Down Payment RequirementsWith a down…