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Kat Tretina is is an expert on student loans who started her career paying off her $35,000 student loans years ahead of schedule. Her work has been published by Experian, Credit Karma, Student Loan Hero, and more. In fact, Fairway was among the top 10 lenders by loan volume for FHA mortgages, according to 2021 Home Mortgage Disclosure Act data.
Fairway could be a good option if you have a poor credit score, or none at all. Most lenders pull your credit score when you apply for a mortgage. But Fairway lets you show alternative credit data, such as proof that you pay bills on time, on some of its mortgages. Fairway and Rocket Mortgage both offer more term length options than many lenders. You'll want Fairway for a USDA mortgage, reverse mortgage, or renovation loan, though, because Rocket Mortgage doesn't offer these loans. Fairway Independent Mortgage Corp. offers a variety of home loan options.
Down payment required
A mortgage professional submits all your documentation and your loan file to the loan processor after you are pre-approved and have found a property. It isn’t easy to find information on credit checks. The website of Fairway Independent does not provide information about rates, fees, and loan requirements. For members of the military who plan to move within the next few years, an adjustable-rate mortgage may be your best option. With home loans offered by the Department of Veterans Affairs, service members, Veterans, and their surviving spouses can affordably finance their homes.
Adjustable-rate mortgages, which have interest rates that change after the initial fixed-rate periods. Mortgage rates for different types of loans aren't posted online. Mar 26, 2021 — Fairway Independent Mortgage has 6337 employees at their 1 location. … the Department of Veterans Affairs , and physician loans. You can access your home equity by refinancing with a new loan more significant than the amount you owe on your current mortgage.
Fairway mortgage loan types
I would find a discrepancy on the form but I wouldn't necessarily get the new application with the correction. I would just be told, "It will be fixed on your closing document." I never wanted to feel as if I was misleading on any applications concerning anything, especially a mortgage application. So when someone is going through this process, they should make sure that they're matched up with a loan officer that is able to really cater to their needs and what they need as a consumer. This is a really long, stressful, complicated process and you have to have someone that you feel is on your team. Start with Fairway by filling out a form online, using the FairwayNow app, calling or visiting a branch. You then work with a loan officer to go over your mortgage goals and submit an application for preapproval.
Fairway Independent Mortgage Corporation—more commonly known as just Fairway—is a national mortgage lender. For borrowers who want personalized assistance, Fairway could be a good choice over other companies. It offers in-person help with every step of the process, or you can work with a home loan advisor over the phone.
Frequently Asked Questions about Physician Group at Fairway Independent Mortgage Corporation
Taking advantage of Fairway Independent’s home renovation loan will open up your property buying options. When considering a physician loan from Fairway, there are a few advantages to borrowers who use this program. You need a 620 credit score for a conforming or USDA mortgage, 600 for a VA mortgage, and 580 for an FHA mortgage. However, you may be able to show alternative credit data, such as utility bills, for Fairway to consider your application even if your score is lower.
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FHA
However, you should note that the lower term option will require higher monthly payments so that you can build equity more quickly. Fairway Independent Mortgage streamlines the mortgage lending process by offering borrowers a comprehensive selection of loan products and customer service options. This is one of the most common questions we receive, regardless of loan type. However, these program guidelines change often, so what’s best is to have a conversation with your Fairway mortgage advisor so that we can determine what the best option is for you. Doctors just getting their career started while saddled with large student loans may be able to take out a Fairway physician loan with extra qualifying flexibility.
Yes, Fairway Independent Mortgage Corporation is a real lender that is licensed in all 50 US states. It's an Equal Housing Opportunity lender, which means the US Department of Housing and Urban Development holds Fairway to certain standards regarding discrimination in the lending process. The Corporate Lending Group is a division of Fairway Independent Mortgage Corporation which specializes in relocation and medical professional lending. Companies displayed may pay us to be Authorized or when you click a link, call a number or fill a form on our site. Our content is intended to be used for general information purposes only.
Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our partners, however, our opinions are our own. Morty was the rep who started my home-buying process but sometimes his secretary takes a long time to get back to me with information. I asked her if he could improve on that a little bit. It's a little longer than I would like it to be but we'll work through that when the time comes.
Keep in mind that you’ll also need to save up for closing costs and other potential fees. When considering a physician loan from Fairway Independent Mortgage Co., there are a few advantages to borrowers who use this program. To decide whether Fairway Independent Mortgage is best for you, check rates and terms from a few different lenders and weigh your options carefully. Lastly, borrowers who want to tap their equity without refinancing will have to go elsewhere. Fairway does not offer a home equity loan or a home equity line of credit .
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