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Mortgages
 Look
to NorthStar Bank for your financial needs on home buying,
refinancing or home construction. Our expert lending staff
can offer a variety of loan options that best suit your personal
needs. NorthStar Bank has various mortgage products available
to help you accomplish your goals.
In-House Home Mortgages
- Quick loan decisions
- Lower closing costs
- Terms: 5-30 years
- Balloon Mortgage - shorter term fixed rates
- Adjustable Rate Mortgages (ARM)
- Construction Loans
Secondary Market Mortgages
- Conventional - fixed rate for life on loan, check with
us for current rate
- First Home Program (Iowa Finance Authority) - closing
cost assistance available up to $1,000 for qualified applicants.
Some restrictions may apply - see bank for more information.
- Guaranteed Rural Housing (Rural Development) - income
subject limitations, 100% financing available, must be purchase
of new or existing dwelling for use as a primary residence,
eliminates need for PMI.
NorthStar Bank will help determine what type of loan is best
for you. Contact one of our real estate
lenders to assist you!
Links of Interest
Home Equity Loans
Use the equity in your home to finance what you need. If you
need to improve your living space, fund college expenses or
vacation trips, these types of loans may interest you. Best
of all, in most cases, the interest you pay is tax deductible.
(Ask your tax advisor to be sure)
Home Equity Lines of Credit
A home equity line of credit is revolving credit where your
home serves as collateral. With a home equity line, you will
be approved for a specific amount of credit for a period of
ten years. You can then advance on the line of credit as your
needs arise. Advances can be made by contacting the bank or
writing checks specifically for your account. You will receive
a billing monthly for the minimum payment due. The interest
rate on the home equity lines of credit offered by NorthStar
Bank are variable tied to a published index.
Home Equity Notes
A home equity note is a fixed rate note where your home is
the collateral for the loan. This type of loan provides you
with a fixed amount of money repayable over a fixed period
of time. You might consider this type of loan instead of a
home equity line of credit if you need a set amount of money
and want to fix the rate and payment.
Visit with one of our lenders to discuss
if a home equity line of credit or home equity note works
best for you.
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