Northpointe Bank vs Newfi Lending
Northpointe Bank is a depository lender with a self-employed non-QM menu including P&L; Newfi is a digital-forward non-QM lender that adds 1099 and ITIN options. Both cover bank statement and asset depletion. Compare program fit, rate, and credit minimum for your income story.
Shared products: Bank Statement, Self-Employed, Non-QM, Asset Depletion, No Tax Return · Updated March 2026
4.0
Northpointe Bank
Wins 1 categories
4.0
Newfi Lending
Wins 4 categories
Full Comparison
| Feature | Northpointe Bank | Newfi Lending |
|---|---|---|
| Interest Rates | 7%–9.5%Better | 7.25%–9.75% |
| Max LTV | 85% | 90%Better |
| Min Credit Score | 640 | 620Better |
| Loan Range | $100K–$3M | $100K–$4M |
| Origination Fee | 0–2 points | 0–2 points |
| Speed to Close | 25–40 days | 21–35 days |
| Experience Required | No experience required | No experience required |
| LLC Borrowing | No | No |
| Interest-Only | No | Available |
| Prepayment Penalty | None (owner-occupied) | None (owner-occupied) |
| Foreign National | No | No |
| Coverage | Nationwide | Nationwide |
| Property Types | primary-residence, second-home | primary-residence, second-home, investmentBetter |
| Loan Products | 6 products | 7 productsBetter |
| Founded | 1999 | 2014 |
| Editor Rating | 4.0 / 5.0 | 4.0 / 5.0 |
Pros & Cons
Northpointe Bank
Pros
- +FDIC-insured chartered bank that portfolios some non-QM loans
- +Apply directly — retail/consumer-direct channel
- +Bank statement, asset-depletion, and P&L programs
- +Portfolio lending can mean more underwriting flexibility
Cons
- –Narrower non-QM menu — no published ITIN program
- –No interest-only on most owner-occupied programs
- –Less of a non-QM specialist brand than dedicated players
Newfi Lending
Pros
- +A non-QM specialist that is genuinely consumer-direct
- +Bank statement, asset-utilization, 1099, and ITIN programs
- +Apply online without a broker
- +Focused expertise in alternative-documentation lending
Cons
- –Smaller and less well-known than the largest lenders
- –State licensing footprint is more limited
- –Foreign-national program availability is not clearly published
Frequently Asked Questions
Is Northpointe Bank or Newfi Lending better for self-employed borrowers?
Northpointe Bank is a depository lender with a self-employed non-QM menu including P&L; Newfi is a digital-forward non-QM lender that adds 1099 and ITIN options. Both cover bank statement and asset depletion. Compare program fit, rate, and credit minimum for your income story.
What loan types do Northpointe Bank and Newfi Lending both offer?
Both lenders offer Bank Statement, Self-Employed, Non-QM, Asset Depletion, No Tax Return. Newfi Lending offers 7 total products vs Northpointe Bank's 6.
Which has lower rates, Northpointe Bank or Newfi Lending?
Northpointe Bank advertises rates starting at 7% while Newfi Lending starts at 7.25%. Northpointe Bank has the lower starting rate, but actual rates depend on your credit score, LTV, property type, and loan product. Always get quotes from both lenders.
Related Comparisons
Not Sure? Try Our Lender Finder
Enter your credit score, income documentation, and loan program to see which lenders match your scenario.