Approol Mortgage Reviews

Approol Mortgage is a Miami-based mortgage lender that’s only available in Florida. It offers a variety of mortgage options for homebuyers, including conventional mortgages, alternative income loans and hard money loans, plus refinance loans and HELOCs. You can get prequalified online with no impact to your credit score.

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.

Once you’re ready to apply, you can fill out an application online. You’ll start by gathering and submitting some basic information and documentation, like the property address and value, the loan amount you need and details about your income and assets. You can speak directly to an advisor at any point in the process.

Approol Mortgage application process features

The table below shows some of Approol Mortgage’s application process features:

Approol Mortgage doesn’t publish its mortgage rates online. To learn which rates you may be offered if you apply, you’ll need to get prequalified for a loan on its website.

In general, mortgage rates can be influenced by factors like your credit score, the total loan amount, the type of loan, the loan term (shorter terms usually have lower rates) and your location.

Approol Mortgage offers a wide variety of loan types, including:

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

Approol Mortgage also offers refinance loans, as well as HELOCs and second mortgages. 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 for a period of time, while a second mortgage is a lump sum of money.

Approol Mortgage doesn’t publish its minimum requirements for its loans, but it does provide general guidelines for its different loan types. For example, conventional loans typically require a minimum credit score of 620 and a minimum down payment of 3%.

Typical mortgage requirements by loan type

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

Approol Mortgage doesn’t disclose its costs and fees online. In general, you can expect to pay closing costs, which are about 2% to 5% of the loan amount. These costs typically include fees related to loan origination, appraisals, title searches, title insurance and recording, among others.