Posted by Apex Home Loans ● July 27, 2021

Find The Loan That Fits Your Financial Needs

Two women reviewing documents


As an independent mortgage lender, Apex provides a versatile range of loan options. Our Mortgage Bankers can accommodate borrowers within a wide range of credit and income backgrounds. 

They work tirelessly to find and structure a home loan tailor-made to fit each borrower’s diverse needs. Whether you’re a first-time homebuyer, a seasoned homebuyer looking for a change of scenery, or a current homeowner interested in refinancing, Apex's expertise may be the solution you are looking for.

Home Loan Basics: "Types vs. Programs"

Mortgage Types can be broken down into 3 categories:

Conforming/Conventional:  A loan that meets underwriting requirements set forth by a Government-Sponsored Enterprise (GSE) (i.e. Fannie Mae and Freddie).
Non-Conforming/Jumbo:  A loan that does not meet GSE requirements, often due to the loan amount. Jumbo loans are frequently non-conforming.Government:  A loan that is guaranteed by a Governmental entity. FHA , VA and USDA/RHS loans are the most common of this type.


Mortgage programs are the defined repayment terms of your loan. The mortgage program you choose designates the length of your loan and can determine the amount of your down payment.

Finding the best loan program for your situation depends on several factors; Your current financial standing, how long you plan to remain in your home, and your financial goals all must be considered. It is necessary to consult with a Mortgage Banker who can take these factors into account in order to choose the right loan.

In the meantime, evaluate your options by learning about the main mortgage programs:


Fixed Rate Loans

  • A loan locked at a specific interest rate for the life of the loan.
  • Monthly payments will always be the same.
  • Inflation-proof.
  • If mortgage rates rise in the years following your loan approval, you’re protected because your payment will not increase.


Adjustable-Rate Mortgages (ARMs)

  • Initially have lower interest rates than fixed-rate loans.
  • The rate will change, or adjust, once your loan term reaches the end of a designated fixed rate period.
  • Your payments may increase over time, requiring you to be financially prepared when that happens.
  • An attractive choice for borrowers who do not plan to remain in their mortgage for very long.
Bottom Line For Homebuyers

Mortgage loans are broken into three categories: conforming/conventional, Non-conforming/Jumbo, and Government. Finding the perfect loan might seem a bit overwhelming. That’s why it’s important to have a trusted lender on your side. Contact us today and let our team of mortgage experts analyze your unique financial picture and goals to match you with the perfect mortgage!


Contact Us   Apply Now   Get Pre-Approved


Topics: Real Estate, FHA Loans, Adjustable Rate Mortgage, Home Buyers, Home Buying Advice, Types of Home Loans, Jumbo Loans, Conforming Loan, Government Home Loan, Non-Conforming Loan