Loan Programs at Applied Mortgage
What is Fixed Versus Adjustable Rate?
You can either choose to keep your finance rate fixed for the term of your loan, creating stability, or you can choose an adjustable rate that could yield better end results. Read this section to learn more about the advantages and disadvantages of using either the fixed or adjustable rate loans.
What is an FHA loan?
Insured by the Department of HUD, FHA loans have become a staple for the first time homebuyer. FHA loans have more liberal guidelines with respect to income qualification, credit rating, and lower down payments. In the past few years, FHA's popularity has risen to an all-time high. Typically FHA requires 3.5% down payment. Contact your loan officer today to discuss the FHA loan product. Click below to learn more!
What are conventional loans?
We offer conventional fixed and adjustable rate mortgages. Typically a conventional mortgage is suitable for the borrower with higher credit standards and a larger down payment. However there are conventional programs with as low as 3% down payment for qualified borrowers.