NorthPort Funding

What NorthPort Funding does

NorthPort Funding is a privately held mortgage broker and lender headquartered at 319 Barry Ave S, Suite 305, Wayzata, Minnesota. Founded around 2019 and operating as NorthPort Funding LLC, the firm originates residential mortgage loans — including purchase, refinance, new construction, FHA/VA/USDA, conventional, Home Possible/Home Ready, renovation, lot, bridge, and HELOC products — through a network of 14+ named loan officers and a loan processor. The company also offers specialized programs such as Physician Home Loans (with up to 100% financing and student-loan debt excluded from qualifying) and self-employed/contractor mortgage programs with alternative income documentation, plus down payment assistance partnerships including Minnesota Housing Finance Agency programs. It is licensed as a mortgage broker and/or lender in roughly 10-16 U.S. states (Minnesota, Arizona, California, Colorado, Florida, Georgia, Illinois, North Dakota, Ohio, Pennsylvania, Texas, Wisconsin, and others), with New York explicitly excluded.

The firm operates a direct-to-consumer model combining a website (northportfunding.com), a 1003 application portal (1868733.my1003app.com), phone and SMS outreach, in-person consultations at the Wayzata office, and active content marketing via blog and four social media channels. The underlying technology stack is a conventional mortgage origination platform with an instant pre-qualification tool that uses a soft credit pull (no score impact), rate-tracking alerts, and an online application portal — none of which is described as AI-driven. Revenue is generated through two streams: (1) origination fees and yield-spread premiums on brokered loans placed with third-party lenders, and (2) interest rate spread on loans originated and held or sold to investors. The company self-reports $2 billion in cumulative loans funded and 5,000+ closed home loans since inception. Ownership is concentrated with founder/Owner-Broker Jason Mikunda (NMLS #533113); the firm has no disclosed venture capital, private equity, or institutional investment, no parent company, no subsidiaries, and no M&A activity on record.

Name

NorthPort Funding

Legal name

NorthPort Funding LLC

Website

https://northportfunding.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

NorthPort Funding is a Wayzata, Minnesota-based mortgage broker serving individual homebuyers and specialty segments — including physicians, self-employed borrowers, and first-time buyers — across 10-16 U.S. states. It offers purchase, refinance, construction, and niche loan products through a 14+ loan officer team and online application platform.

Ownership category

akta.pro rank

Product category

Residential Mortgage Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

akta.pro secondary industry

Public Mortgage Insurance & Government Credit Guarantee Programs (FSALAKAD)

Keywords

• Residential mortgage lending
• Mortgage brokerage services
• Home purchase financing
• Mortgage refinancing
• Construction lot loans

Headquarters

HQ city

Wayzata

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mortgage Origination Fees: NorthPort generates revenue through origination fees charged on mortgage loans they originate. As a mortgage broker, they access multiple lenders and loan products to find the best fit for customers, earning commissions or fees from these transactions.
2. Interest Rate Spread: Revenue is generated through the spread between the interest rate offered to borrowers and the rate at which the loan is sold to investors or held in portfolio.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

NorthPort Funding is a mortgage broker and lender that originates and arranges residential home loans for individual consumers across 10+ U.S. states. The company offers a full suite of mortgage products including purchase loans, refinancing, new construction loans, government-backed FHA/VA/USDA loans, physician home loans, lot loans, renovation financing, and down payment assistance programs. NorthPort differentiates through a multi-lender broker model, personalized loan officer support, and an online pre-qualification tool that does not impact the borrower's credit score.

Product overview

NorthPort Funding is a mortgage broker offering a comprehensive suite of loan products. The core offering consists of purchase mortgages, refinancing, and new construction loans. The company provides specialized financing options including physician home loans for medical professionals, renovation financing for home improvements, and lot loans for land purchases. Additional products include government-backed loans (FHA, VA, USDA), conventional financing, down payment assistance programs, bridge loans, and HELOCs. The company differentiates through its Instant Pre-Qualification technology that allows pre-qualification without credit score impact. NorthPort Funding operates in multiple states and positions itself as a broker with access to multiple lenders and loan products.

Differentiator

Problem solved

Functional benefit

Products and services

• Purchase Loans

Quantifiable outcome

• $2 Billion in loans funded since inception
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Industry Partner CompaniesminorOthersNorthPort partners with other mortgage companies and industry providers to ensure clients are connected with the company that best meets their individual needs. The company states 'a single mortgage company cannot meet all the needs of people shopping mortgages' so they work with unnamed partners to provide additional options for clients when their offerings don't align with customer requirements.

Scale indicators5 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Fairway Independent Mortgage Corporation: Mid-sized US mortgage lender with a heavy retail branch model and personal loan officer relationships, founded on a similar 'local expert' value proposition to NorthPort Funding. Comparable in offering purchase, refi, and government-backed loan products through in-person consultations.
• CrossCountry Mortgage: Large privately-held US mortgage originator that scaled aggressively via branch expansion and loan officer recruitment. Competes directly with NorthPort in the multi-state retail mortgage market with similar product breadth including conventional, government, and specialty programs.
• Movement Mortgage: Top-20 US retail mortgage lender focused on purchase-market loan officers and community-based lending. Operates a comparable branch/loan-officer model with a strong emphasis on speed and in-person service.
• PrimeLending: National retail mortgage lender operating across dozens of states with a multi-channel production model, offering the same core products (purchase, refi, FHA, VA, construction, lot) as NorthPort. Comparable mid-market footprint and direct-to-consumer emphasis.
• Guild Mortgage: US retail mortgage lender with multi-state branch operations and a focus on purchase business and specialty programs (physician, low-down-payment, renovation). Directly comparable to NorthPort's positioning with similar product menu and loan officer-led model.
• Rocket Pro Tribute: The wholesale broker channel of Rocket Mortgage, providing brokers with access to multiple loan products and digital tools. Directly comparable to NorthPort's broker-side operations, though at vastly greater scale.

Broad incumbents

• United Wholesale Mortgage (UWM): The largest US wholesale mortgage lender, serving as the upstream funding partner for the broker channel that NorthPort operates within. Relevant as a structural counterparty and as a benchmark for broker-channel scale and technology investment.
• Rocket Mortgage: Largest US retail mortgage lender by volume and a dominant direct-to-consumer brand. Comparable retail mortgage product set, but at far greater scale, brand, and technology investment than NorthPort; sets the competitive baseline.
• Better.com: Digital-first US mortgage lender built around a streamlined online application and instant pre-qualification user experience. Overlaps with NorthPort in the digital pre-qualification and online application features, but operates at much larger scale and without a branch/loan-officer layer.
• NewRez (now part of Rocket Companies): National US mortgage lender offering retail, wholesale, and correspondent channels, including physician loan programs and other specialty products. Comparable breadth of offerings and multi-channel distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCH1o2Idpt4eEJqUQkWkTNaA
• Facebookfacebook.com/northportfunding
• LinkedInlinkedin.com/company/northport-funding
• Instagraminstagram.com/northportfunding
• Xx.com/npmortgage

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NorthPort Funding