You can achieve your desired through easily by CSS :-
HTML
<input type="submit" name="submit" value="Submit Application" id="submit" />
CSS
#submit {
background-color: #ccc;
-moz-border-radius: 5px;
-webkit-border-radius: 5px;
border-radius:6px;
color: #fff;
font-family: 'Oswald';
font-size: 20px;
text-decoration: none;
cursor: pointer;
border:none;
}
#submit:hover {
border: none;
background:red;
box-shadow: 0px 0px 1px #777;
}