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Mortgage loans
Mortgage loans — know every number before you commit.
Fixed and adjustable rate mortgages for home purchase, refinance and equity access. Federal law requires a full loan estimate before you sign. We provide it and walk you through every line.
Key facts
Four things to understand before applying for a mortgage.
Fixed or adjustable
Choose a fixed rate for payment certainty, or an ARM for a lower initial rate — both fully explained before you commit.
Loan estimate required
Federal law requires a full loan estimate — rate, APR, all fees, closing costs — within 3 business days of application.
Secured commitment
Your home is collateral. Missed payments risk foreclosure — review every figure before signing and seek advice if unsure.
Total cost matters most
A 30-year term can cost significantly more than the purchase price in total. Always compare total repayable, not just the monthly payment.
Fixed-rate vs. adjustable-rate — what you are choosing
A fixed-rate mortgage locks your interest rate for the life of the loan. Your monthly payment is the same from month one to the final installment — no rate risk, no payment increases. An adjustable-rate mortgage (ARM) starts with a lower rate for an initial fixed period, then adjusts periodically based on a market index. Your payment can go up. We explain the maximum possible rate and payment before you choose.
Three reasons people take out a mortgage
A purchase mortgage funds the acquisition of a home. A refinance replaces an existing mortgage — often to access a lower rate or change the term. A cash-out refinance or home equity loan converts the equity you have built into usable funds. Each has different qualification criteria, cost structures and risks.
Your loan estimate — what it covers
Before you commit to any mortgage, federal law requires a loan estimate covering: the interest rate, APR, all origination fees, estimated closing costs, property tax and insurance requirements, any prepayment penalty condition, and the total amount repayable over the full term. We provide this in full. Read every line — particularly the total repayable, which is often significantly more than the purchase price.
Closing costs — budget for 2%–5% of the loan
Closing costs are paid at settlement in addition to your down payment. They typically range from 2% to 5% of the loan amount and can include origination fees, appraisal, title search, title insurance, attorney fees and recording charges. These are itemised on your loan estimate so you can see exactly what you are paying before you proceed.
What we review on a mortgage application
We assess your credit history and score, income, employment status, existing debts, the property value and type, and the loan-to-value (LTV) ratio. A larger down payment reduces the LTV and typically improves the rate you qualify for.
Availability and state licensing
Mortgage products are available only in states where we hold the relevant licence. Product types, qualifying criteria and available terms vary by state. Confirm availability when you apply.
Important. A mortgage is a long-term, secured commitment. Your property is used as collateral — failure to make payments can result in foreclosure. Review every figure on your loan estimate carefully before signing.
Mortgage options
Products available through Micropath Finance.
Different situations call for different structures. Micropath Finance explains every option before you choose.
Fixed-rate mortgage
Your rate and payment stay the same for the entire loan term — total predictability for the life of the loan.
Adjustable-rate (ARM)
A lower initial rate that adjusts periodically after a fixed period — review the maximum possible rate before you accept.
Purchase mortgage
Funds the acquisition of a primary residence, second home or investment property.
Refinance
Replaces your existing mortgage — potentially at a lower rate, shorter term or to change from ARM to fixed.
Cash-out refinance
Tap the equity you have built in your home by refinancing for more than you owe.
Home equity loan
A second mortgage against your home equity — fixed rate, fixed term, lump sum disbursement.
What to check
Six things to review on every mortgage offer.
A mortgage is the largest financial commitment most people make. These six items on your loan estimate determine your true long-term cost.
Full guide to APR & fees- 01The interest rate and APR — both disclosed on your loan estimate
- 02All origination fees and closing costs itemised before you sign
- 03The total amount repayable over the full loan term
- 04Property tax and insurance estimates included in your monthly total
- 05Any prepayment penalty — whether paying early costs you
- 06For ARMs: the adjustment cap, maximum possible rate and worst-case payment
Loan terms at a glance
What to expect from a Micropath Finance mortgage.
Rate optionsFixed-rate or adjustable-rate — explained before you choose
Loan purposesPurchase, refinance, cash-out or home equity
Cost disclosureFull loan estimate — APR, fees, closing costs disclosed
Down paymentConfirmed in your offer — depends on product and profile
Total repayableDisclosed over full term — 15- or 30-year impact shown
DecisionMicropath Finance — a direct lender, not a broker
Exact rates, fees and terms depend on your application, credit profile and property details. Micropath Finance presents the full loan estimate before you sign — nothing is agreed until you accept.
How it works
Four steps from request to closing.
We review your profile
Micropath Finance reviews your credit, income, LTV ratio and employment. We make the decision.
Review the loan estimate
You receive a full loan estimate — rate, APR, all fees, closing costs and total repayable. Nothing is final until you sign.
Sign and complete
Once you accept and sign the agreement, we complete the process and funds are disbursed.
Why Micropath Finance
A direct lender. Complete cost disclosure. No surprises.
Micropath Finance is not a broker. When you apply for a mortgage, you deal with us directly — we review your application, present the options and make the lending decision.
Before you sign, we provide the complete loan estimate: rate, APR, every fee, closing costs and the total you will repay over the life of the loan.
About Micropath FinanceAlso available
Explore other loan products.
When you're ready
Apply for a mortgage — understand the commitment first.
Micropath Finance provides a full loan estimate — rate, APR, all costs and total repayable — before you commit to anything.
Common questions
Frequently asked questions
What is the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage locks your rate for the life of the loan — your payment never changes. An adjustable-rate mortgage (ARM) starts at a lower rate for an initial period, then adjusts based on a market index. Your payment can increase. We show you the maximum possible rate and payment on any ARM before you choose.
What is a loan estimate and when do I receive it?
A loan estimate is a standardised document federal law requires before you commit to a mortgage. It covers the interest rate, APR, all origination fees, estimated closing costs, property tax and insurance requirements, any prepayment penalty and the total repayable. You receive it before you sign anything.
How much down payment do I need?
Down payment requirements depend on the loan program, property type and your financial profile. Your offer confirms the minimum down payment required.
What are closing costs and how much should I budget?
Closing costs are fees paid at settlement in addition to the down payment — typically 2%–5% of the loan amount. They include origination fees, appraisal, title search, title insurance and recording charges. They are itemised on your loan estimate.
Does applying for a mortgage affect my credit score?
Mortgage applications typically involve a hard credit inquiry, which can temporarily affect your score. We confirm the type of check before you proceed.
What should I compare before accepting a mortgage offer?
Prioritise total repayable over the full term — not just the monthly payment. Also compare the APR, all fees, the repayment schedule and early repayment conditions. For ARMs, check the maximum possible rate and what the payment would be at that rate.