Approol Mortgage Reviews

Approol Mortgage is a Miami-based mortgage lender that offers a variety of mortgage options for homebuyers, from conventional mortgages to alternative income and hard money loans. Approol also offers refinancing and home equity lines of credit (HELOCs). You can get prequalified in just a few minutes. The company was founded in 2023 and is available in Florida.

The Approol Mortgage loan application process starts with getting prequalified. You can start this process by answering a few basic questions on the Approol Mortgage website.

The application itself is handled online. You’ll start by gathering and submitting some basic info and documentation, like the address and value of the property you want to buy, the amount of the loan you want to take out and an overview of your income and assets. You can speak directly to an advisor at any point in the process.

Approol Mortgage application features

Approol Mortgage doesn’t publish its rates on the website. However, it does offer an updated chart of current average mortgage rates that visitors can scroll through.

Mortgage rates can be influenced by several factors: your credit score, the total loan amount, the type of loan, the loan term (shorter terms usually have lower rates) and even your location.

Approol Mortgage offers a wide variety of loan types, from conventional mortgages to refinancing to investment loans. Here’s a list of the most popular loan types Approol Mortgage offers:

• Conventional
• Jumbo
• FHA
• VA
• USDA
• Alternative income (for borrowers who don’t have tax returns or W2s to show)
• Hard money (short-term, high-interest loans often used by investors)
• Residential investment
• Foreign national (designed for non-U.S. residents)
• Commercial

Approol Mortgage also offers refinancing, as well as HELOCs and second mortgages (also known as a home equity loan). HELOCs and second mortgages are both based on your home’s equity — the difference is that a HELOC is a line of credit you can borrow from as needed, while a second mortgage or home equity loan is a lump sum.

Mortgage requirements vary with the type of loan — for example, a conventional mortgage will have a different minimum credit score and down payment requirements than an FHA or VA loan.

Approol Mortgage doesn’t publish minimum requirements for loans but does indicate that it has high approval odds, low down payment options and flexible loan options for different circumstances.

Below, you can find general guidelines for the most common loan types:

Approol Mortgage costs and fees vary with the type of loan and the specific circumstances of each transaction.

• Appraisal fees
• Loan origination fee
• Credit report fee
• Title search and insurance
• Survey fee
• Escrow deposit
• Attorney fees
• Recording fees
• Underwriting fee

These fees are often paid as part of your closing costs. Closing costs typically come out to about 2% to 5% of the loan amount.