Fairway Independent Mortgage Corp is based in Madison, Wisconsin, and the company has lent nearly $ 130 billion since it began in 1996 – and more than $ 21.8 billion in 2018 alone. The lender offers several mortgage products including traditional, Federal Housing Administration, US Department of Agriculture, US Department of Affairs and refinance loans. Fairway Independent Mortgage also offers jumbo loans to purchase homes in high-cost markets, renovation loans, adjustable rate mortgages and reverse mortgages. Fairway is an independent mortgage company and acts as a mortgage broker and direct lender.
- The selection of mortgages includes VA and USDA loans, which do not have repayment requirements.
- A + Customer Service Rating with Better Business Bureau.
- Renewal loan options include homesite renovation loans, which adds the cost of remodeling and the mortgage to a loan.
- Any home equity loan or lines of credit available.
- At least 5% required payments, excluding VA, FHA and USDA loans and first-time homebuyer programs.
What mortgage products are in the Fairway Independent mortgage offer?
- Conventional loan
- Adjustable rate mortgage
- FHA loan
- Usda loan
- Va loan
- Renewal loan
- Reverse mortgage
- Jumbo loan
How can I qualify for a Fairway Independent mortgage home loan?
Fairway Independent Mortgage does not publicly disclose eligibility requirements, but along with other mortgage companies, Fairway will review your credit history. Typically, lenders who want a traditional mortgage require a credit score of 620 or higher, and some lenders require a credit score of 660 or higher.
Expect to pay at least 5% for most Fairway Independent mortgage home loans. Loans insured by the federal government, including VA, FHA and USDA loans, have more or less the requirements of repayment.
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Does the mortgage fee fairway independent mortgage fee?
Closing costs include loan origination fees, discount points, appraisal costs and other asset transfer expenses. You can expect these costs to be around 2% to 3% of the loan amount.
How is Fairway Independent Mortgage Customer Service?
Fairway Independent Mortgage has an A + rating with the Better Business Bureau, with an average five-star rating from customer reviews
In 2019, the Consumer Financial Protection Bureau received 21 mortgage-related complaints about Fairway Independent Mortgage. The most common issues involved were:
- Apply for a mortgage or refinance
- Lock on a mortgage
- Trouble during payment process
Fairway Independent Mortgage responded timely to the CFPB on all issues.
Does Fairway Independent Mortgage Offer Online Features?
Fairway Mortgage has a mobile app called Fairway Now so that you can message your real estate agent and lender. You can get approved for a fairway mortgage through the app, and it allows you to upload documents, receive property alerts, calculate payments, and track progress.
Apart from the app, you can apply online for a loan with Fairway Independent Mortgage. However, the closing process is usually done in person.
Is Fairway Independent Mortgage a good company?
Fairway Lending has an excellent customer service rating and provides suitability like the Fairway Now app. In addition, you will choose mortgage and loan products, including renewal loans and refinances. When you can’t get a home equity line of credit with Fairway Independent Mortgage and you will need 5% for a traditional loan, the company offers a lot of options to a wide variety of borrowers.
The best for fairway independent mortgage loans are:
- Borrowers who expect great customer service.
- Homebuyers who want a government-backed VA, FHA or USDA loan.
- Borrowers who want a selection of mortgage products.