Home buyers, renters and homeowners who are looking to purchase a home or refinance their loan now can turn on to Apply-Free for the ultimate mortgage and real estate resource on the Internet.

Our website has EVERYTHING YOU NEED under one roof. Looking for ways to finance your home? This site offers an array of finance tools at your fingertips. Loads of links, calculators and financial advice can take the guesswork out of finding the home of your dreams. Plus you can find the home you are looking for in a community you'll love.

Learn More About Our Home Loan Programs:

Fixed Rate: A fixed rate home loan has set payments and interest rates and is paid off after a set amount of time (normally 15, 20, or 30 years). Monthly payments remain the same until the amount has been fully repaid.

Adjustable Rate Mortgage (ARM): An ARM's interest rate is not fixed and will fluctuate over the life of the loan. This can result in higher and lower monthly payments. Rates are usually fixed for a set time at the start of the mortgage and then rise or fall, following economic trends. As the borrower is taking a risk that interest rates may rise, lenders often offer a lower than normal rate for this initial period.

Some ARMs can be converted to fixed term mortgages at specific points in the loan's life. This allows homeowners to opt out of the ARM if they want the monthly security of a fixed payment.

Buy Down: A buy down option allows you to begin your payments at a lower then normal interest rate. This reduction can be permanent or temporary, in which case the rates slowly climb to a pre-determined level. The result is lower payments in the early years of the loan. To offset the money lost due to lower interest rates, lenders often include an extra sum of money to be paid at the end of the agreement.

First Mortgage versus Second Mortgage

A second mortgage is a loan that uses the equity in your home (the difference between what you owe on the home and its current value) as security. This allows you to refinance existing loans, pay off outstanding debts, or perhaps finance medical or caregiver expenses. Your first mortgage takes priority over all other loans negotiated using the property as collateral.

Home Loan Information

If you need help purchasing your first home, need extra cash for your retirement, or want to consolidate all your debts, a number of home buying and financing options are available. Some only apply to certain age groups or segments of the population. Others are specifically designed to help a first time homebuyer overcome low-income levels to purchase a property.

Conventional Mortgage

A conventional mortgage has no security guarantees other than the value of the property. A low down payment, in combination with a conventional mortgage increases the risk to the lender. This is because the borrower has little invested in the property. Typically, a down payment of less than twenty percent of the property value will require private mortgage insurance (PMI). VA loans, FHA loans and other programs guaranteed by the government do not require mortgage insurance.

FHA Loans and HUD Homes

If you are a first time homebuyer, consider applying for an FHA loan, which is issued by the Federal Housing Administration (FHA), a subsidiary of the US Department of Housing and Urban Development (HUD).

The department's HUD Homes program is especially helpful for a first time homebuyer with a limited income. People who qualify for the HUD Homes program may be able to put down a down payment as low as three percent of the property's worth, providing they go through a HUD-approved lending agency.

Who Is Fannie Mae?

Fannie Mae is a private investment company that is sponsored by the federal government. Fannie Mae is the single largest supplier of home buying funds in the US. The company finances homebuyers, gathers mortgages together in batches, and then sells them to third parties on the secondary mortgage market.

VA Home Loans

Since World War II, Veterans' Affairs has helped finance real estate for veterans. VA loans are backed by the government, which protects the lender against loss if payments are not made. A key feature is that often no down payment is required.

Home Equity Line of Credit (HELOC)

A home equity line of credit uses the equity in your property as collateral. While not a home loan, it does allow you to access the equity in your property and you pay interest only on the amount you use. 

Debt Consolidation Loans

Debt consolidation is an option if you are suffering from heavy debt such as credit cards, student loan, car loan with several separate monthly payments. With a debt consolidation loan, all your debts can be refinanced into ONE single payment. Depending on the length of the term and interest rate, this monthly payment is often lower than the sum of the original payments.