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 send you a link to the loan application, which you can complete online or through the Gold Star Financial app. You’ll also need to 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. Rates are locked for up to 90 days. The company will provide you with a preapproval letter that you can use in the home search process.

Gold Star Financial application features

Gold Star Financial doesn't 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 types of home loans, including conventional, jumbo and reverse mortgages. The company also provides government-backed options through the Federal Housing Administration (FHA), VA and the U.S. Department of Agriculture (USDA).

Loan options from Gold Star Financial include:

• Conventional: A standard loan that isn’t backed by the government
• FHA: For borrowers with lower credit scores or smaller down payments
• VA: For eligible veterans, active-duty service members and surviving spouses
• USDA: For buyers in rural and some suburban areas with no down payment requirement
• Jumbo: For homes that exceed conventional loan limits
• Reverse mortgage: For homeowners 62 and older who want to convert equity into cash

Gold Star Financial also offers refinancing for most loan types.

First-time homebuyers can apply for the Home Possible or HomeReady programs, which are available through Freddie Mac or Fannie Mae. These programs offer:

• No cash reserve requirements
• The ability to use gifted funds for a down payment
• A 3% down payment option through HomeOne from Freddie Mac
• Down payment assistance covering up to 5% of the loan amount

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

Government-backed loans, such as USDA and VA loans, require no down payment, allowing for 100% financing. While the minimum credit scores for USDA and VA loans aren’t disclosed, you’ll need at least a 580 to qualify for an FHA loan.

Gold Star Financial requirements by loan type

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