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Home Loans

Let us help you find the right home loan

At the beginning of the home purchase process, figuring out what kind of loan best suits your needs and situation is a very important step. Great Northern Mortgage provides a wide variety of mortgage products designed to serve the differing needs of every home buyer and is here to help advise you when you are getting started.

Whether this is your first purchase ever, or you’re thinking of purchasing an investment property to add a new income stream, we have a mortgage product that will position you for success.

What kinds of home loans are available?

Conventional, government, jumbo and Non-QM loans are the four main categories of home purchase loans available to buyers. All home loans, even niche products, fall under one of these four categories.

Another major differentiator among home loans is whether they have a fixed or adjustable interest rate. Fixed rate loans do not change for the entire life of the loan, so they are ideal for people who require predictability and stability in their finances and plan to live in their home for many years. Adjustable rates can be more suitable for buyers who may not plan to own a particular home for more than a few years, or can accept potential rate increases at a later date in exchange for a low initial rate.

When do I start shopping for a loan?

As soon as possible! If you’re looking into buying a home, we strongly urge you to get the ball rolling on the mortgage process (pre-approval especially) months before you anticipate actually making your purchase. Starting early can give you time to take steps necessary to help get you the best rates and ensure that unexpected obstacles to getting a loan won’t arise when you are close to closing on a purchase. Our Buy a Home page can help you see what the home-buying timeline looks like in an ideal scenario.