Gold Star Financial Reviews

Gold Star Financial has provided mortgage loans and financial services for over 20 years. It reports having originated billions in home loans since it was founded in 2000. Gold Star Financial offers a wide variety of home loans, including conventional and government-backed mortgages. You can apply for a mortgage loan online or by calling the company.

You can start the application process with Gold Star Financial by calling the company and connecting with a licensed broker in your state. You can also begin by checking rate offers online with only a soft credit pull. Once you enter your contact information into the prequalification form, a loan officer will reach out to assist you with the next steps.

The loan officer will also send you a link to the loan application, which can be completed 100% online or through the Gold Star Financial app. You must also upload required documents, like W2s, bank statements and tax returns from the previous year.

After completing your application, you could receive a preapproval decision in as little as one business day. The company will provide a preapproval letter to use in the home search process and rates are locked for up to 90 days.

Gold Star Financial application features

Gold Star Financial does not publish its starting rates online. You’ll need to get prequalified to receive specific rate offers. Gold Star Financial offers both fixed- and adjustable-rate mortgages.

Gold Star Financial offers several mortgage options, including conventional, jumbo and reverse mortgages, as well as government-backed mortgages by the Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA) and the U.S. Department of Agriculture (USDA):

• Conventional
• FHA
• VA
• USDA
• Jumbo
• Reverse mortgage

Gold Star Financial also provides refinancing options for most loan types.

There are also specialty programs available. First-time homebuyers can apply for the Home Possible or Home Ready programs, available through federal government-sponsored organizations Freddie Mac or Fannie Mae.

With these programs, there are no cash reserve requirements, and you can use gifts from family to make the down payment. In addition, Freddie Mac’s Home One program has a low 3% down payment requirement. Down payment assistance programs are also available, covering up to 5% of the loan amount as down payment help.

Gold Star Financial states most of its loan requirements online. For example, you’ll need at least a 620 credit score and a 3% down payment to qualify for a conventional loan. Jumbo loans have higher borrower requirements with a 680 minimum credit score and a 20% down payment.

Government-backed loans like USDA and VA loans have no down payment requirements, so you can apply for 100% financing. While minimum credit scores for USDA and VA loans are not disclosed, you need at least a 580 to qualify for an FHA loan.

The following table shows the requirements for various types of loans Gold Star Financial offers:

Gold Star Financial does not disclose the fees it charges on new mortgage loans. However, you’ll receive a loan estimate after preapproval, which details all fees associated with the loan. Typical costs may include appraisal, title and processing fees.