Whether you are buying for the first time or refinancing a current home, we've got the right loan for you. Don't forget that in most cases, interest paid on Apple home loans is tax deductible. There are no points. There is no prepayment penalty if you choose to payoff your loan early. All mortgage loans are on primary residences only.

Find out how to earn a cash rebate when you buy or sell a home!

Apple FCU Mortgage Center

Faster. Easier. More Convenient. Apple's Mortgage Center is a home loan resource that helps take the guesswork out of the home loan process.

• KNOW what to expect throughout the application process by walking through it step-by-step
• COMPARE Apple's mortgage options and rates to find the best fit for your budget
• GET a personalized rate quote
• USE Apple's resources to more fully understand your home buying/refinancing options
• APPLY for an Apple home loan online!

Stop Renting and Achieve the American Dream
One of the fastest ways to save money is purchasing a place of your own. The benefits are numerous, and can help to create long-term savings in your monthly expenses. For more information on how you can save by purchasing a home, click here.

Apple’s Exclusive FCPS Home Buyer Program – Save $1,500* Annually in Interest
Get head-of-the-class home financing from Apple FCU! Whether you’re a first time home buyer or simply looking for a space upgrade, Apple has the home financing you need, with exclusive savings and discounts you can’t resist.  For purchase transactions only!

• .50% rate discount* – Save more than $1,500 annually in interest**
• Up to 105% financing available
• Reduced closing costs
• Low to NO down payment required
• A 20% rebate on your agent’s commission when you use an Apple CU Realty-approved realtor.

It's easy to qualify for Apple's FCPS Home Buyer Program. You must:

• Be a current, contracted employee with Fairfax County Public Schools (includes teachers, administrators, support staff, bus drivers, etc.)
• Have FCPS direct deposit of $1,000 or more per month into an Apple account
• Have an Apple FCU Checking account and FREE Visa® Check Card.

To learn more about Apple’s FCPS Home Buyer Program, stop by any Apple branch or call 703-788-4800.

*Rate and receipt of discount based upon an evaluation of applicant credit. Homes purchased must be the primary residence of the borrower in order to receive any FCPS Home Buyer Program incentives. **Interest savings of $1,561 is based on a discounted 6.00% rate (50 basis points off a 6.50% rate) on a $400,000, 97% loan to value First Trust Mortgage. The .50% discount (50 basis points) interest savings is subject to change and is based on the loan amount and financing term. Click here for current rates. This is for illustrative purposes and is subject to change and availability.

CU Realty Rebate Program
Are you looking to buy or sell a home? Apple Federal Credit Union is now able to help you through our CU Realty Program.

• Access the same real estate listing services all realtors use, including pictures and addresses.
• Contact realtors to buy or sell your home.
• Obtain comparable sales, school and neighborhood data.
• Most importantly, receive a CASH REBATE- 20% of your agent's commission! To qualify for the rebate, you must register for CU Realty and use a CU Realty approved agent.

Fixed Rate Mortgage
Fixed rate mortgages are non-government mortgages which must meet the lending guidelines of Freddie Mac. These loans provide the opportunity to purchase real property or refinance your current property while taking advantage of our low rates.

• Borrow from $50,000 to $417,000, Jumbo mortgages up to $1,000,000 are also available (up to 80% of the value of the property)
• 10, 15, 20, 30 & 40 year repayment terms available
• Borrow up to 97% of purchase price or appraised value on purchases
• Borrow up to 95% on non-cashout refinances and 90% on cashout refinances of home value

Adjustable Rate Mortgage
Adjustable rate mortgages are non-government mortgages which must meet the underwriting guidelines of Apple FCU. These loans provide the opportunity to purchase real property or refinance your current property while taking advantage of our low rates.

• Borrow from $50,000 to $417,000, Jumbo mortgages up to $1,000,000 are also available (up to 80% of the value of the property)
• 1/1 ARM, 3/1 ARM, 5/1 ARM, and 7/1 ARM with 30 year repayment terms available
• Borrow up to 97% of purchase price or appraised value on purchases
• Borrow up to 95% on non-cash out refinances and 90% on cash out refinances of home value

Interest Only 3/1 or 5/1 Adjustable Rate Mortgage
Apple has Interest Only 3/1 and 5/1 adjustable rate mortgages available. Interest Only mortgages must meet the underwriting guidelines of Apple FCU. These loans provide the opportunity to purchase real property or refinance your current property while taking advantage of our low rates and an initial period of 3 or 5 years where only interest will be charged to the borrower.

• Borrow from $50,000 to $417,000, Jumbo mortgages up to $1,000,000 are also available (up to 80% of the value of the property)
• 3/1 or 5/1 ARMs, Interest Only charged for the first 3 or 5 years on a 30 year schedule. After 3 years with the 3/1 Interest Only ARM, the loan becomes adjustable and the loan is amortized over the remaining 27-year term. After 5 years with the 5/1 Interest Only ARM, the loan becomes adjustable and the loan is amortized over the remaining 25-year term.
• Borrow up to 95% of purchase price or appraised value on purchases
• Borrow up to 95% on non-cash out refinances and 90% on cash out refinances of home value

3/30 First Trust Loan
This loan provides the opportunity to purchase real property or to take advantage of lower interest rates and no points. If you have equity above prior trust payoffs, you may take advantage of that amount for your personal needs. After 36 payments, you have the choice to pay a balloon payment or refinance at the rate being offered at that time.

• Borrow from $50,000 to $417,000, Jumbo mortgages up to $1,000,000 are also available (up to 80% of the value of the property)
• Payments based on 30 year repayment
• Rate is subject to change every three years
• Borrow up to 100% of your home value

3/20, 5/20, 7/20 and 10/20 Equity Loan
These products are loans in which the payment is secured by a deed of trust on your real property. The purposes of these products are to provide a convenient single payout of funds for the purpose of debt consolidation, home improvements or other needs.

• Borrow up to $250,000
• Fixed rate terms of 3, 5, 7 or 10 years with a amortization of 20 years
• Borrow up to 100% of your home value

Prime Access Home Equity Line of Credit (HELOC)
The Prime Access Home Equity Line of Credit (HELOC) is a loan in which the payment is secured by a deed of trust on your real property. The purpose of an open-end HELOC is to provide a single, convenient and continuing source of funds for education, home improvements, vacation, bill consolidation or most any other purpose.

• Borrow up to $100,000
• 5 year draw period
• 10 year repayment term
• Borrow up to 100% of your home value
• Convenient access to your money through a Prime Access Debit Card or Checks

Home Possible®

Up to 105%* Mortgage Financing Available
Apple FCU wants to help you move one step closer to owning your own home. Cover the closing costs and purchase of your new home with Apple’s Home Possible program for qualified members*.  Members in the service industry (including educators, police personnel, firefighters, nurses, etc.) and the U.S. military may qualify for additional benefits. Plus, when you use Apple's CU Realty Home Rebate program to locate your new home, you could receive a rebate of up to 20% of your agent's commission. Not to mention, you could qualify for reduced mortgage insurance (PMI)**. New in 2007, PMI may be tax deductible+!

• 15 Year Fixed Rate
• 20 Year Fixed Rate
• 30 Year Fixed Rate
• 5/1 Adjustable Rate Mortgage
• 7/1 Adjustable Rate Mortgage

Purchase a Home with $0 Down Payment
The Home Possible program covers the purchase and may cover all closing costs for your new home-closing costs can be paid by the property seller up to 3% of the selling price-not to mention you could qualify for reduced Private Mortgage Insurance (PMI)**. New in 2007, PMI may be tax deductible+!

Qualifying Made Easy
In order to participate in the Home Possible program the borrower's annual income must be equal to or less than the area's Median Income Limits as set forth by the U.S. government-county Median Income Limits can be verified by clicking here.

To find out more about the Home Possible financing option, visit any Apple branch or call 703-788-4800.

*Special program made available by Freddie Mac Home Possible. Service industry maximum income caps apply. **Reduced PMI products made available through CMG, in conjunction with Home Possible program. +Tax deduction only applies for members who meet adjustable gross income requirements as set forth by the Internal Revenue Service. Consult a tax advisor.

Reverse Mortgages
Reverse Mortgages are a special type of home loan that lets homeowners convert a portion of the equity that has been building year-over-year into cash. Unlike a traditional home equity loan or second mortgage, Reverse Mortgages do not require repayment until the borrower sells the home, or is no longer using it as their principle residence. For an idea of how much you could receive, click here to use Apple's Reverse Mortgage Calculator.

To receive additional information on Apple's Reverse Mortgage product, click here.