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  Fairway Home Mortgage

Fairway Home Mortgage

in Home Purchase Mortgages from Fairway Independent Mortgage Corporation · NMLS ID #2289

Unaffiliated

Fairway Home Mortgage

Unaffiliated

in Home Purchase Mortgages from Fairway Independent Mortgage Corporation · NMLS ID #2289

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount Up to $3,000,000
Loan Term (Years) N/A

Fairway Home Mortgage Review

Fairway Home Mortgage is offered by Fairway Independent Mortgage Corporation (NMLS #2289), a direct lender founded in 1996 and based in Madison, WI. Fairway Home Mortgage is available in 50 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. Fairway Home Mortgage offers FHA, USDA, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Standard interest rates types. Fairway Home Mortgage offers and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Fairway Home Mortgage Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Charges an origination fee.
  • Charges prepayment fees.
Fairway Home Mortgage FAQ

How much can you borrow via Fairway Independent Mortgage Corporation?

Fairway Home Mortgage allows borrowers to apply for loan amounts of up to $3,000,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What mortgage rates does Fairway Independent Mortgage Corporation offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does Fairway Home Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, Fairway Home Mortgage may charge a loan origination fee.

What mortgage programs are available?

Fairway Home Mortgage offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Fairway Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Fairway Home Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for this business card is (866) 912-4800.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

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Message From Our Editor

What We Love About Fairway Independent Mortgage

Fairway Independent Mortgage offers a quick, easy online application process and a comprehensive, integrated mobile app that makes applying and following up on loans easier than ever before. This company has been working in the Internet realm for more than 20 years, servicing mortgages and finding better ways to do so by integrating technology and AI. They’ve done this well, and consumers who want a truly integrated, seamless online mortgage experience can rely on this lender.

What Could Fairway Do Better?

Fairway Independent Mortgage has a wide selection of lending products, and they seem to have pretty good customer service. Still, a few reports show that the company has sold loans to other servicers or companies without telling borrowers. There have also been some people that report difficulty getting in touch with loan officers. However, the reviews are positive for the most part.

Fairway's Backstory

Fairway was founded in 1996 in Madison, Wisconsin. The company was created as an Internet-savvy lender at the dawn of the online age, growing into a national brokerage network today that is rather impressive. The company has over 300 independent locations and 4,300 employees, along with more than $50 billion in loans funded to date.

The Verdict

For those who want an online mortgage application that is simple and accessible, Fairway may have the solution. Their mobile app offers an application that takes less than 10 minutes to complete, and approvals are near-instant for most borrowers. They also have a 24/7 portal for borrowers and applicants.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 5:00pm
  • Tuesday 8:30am - 5:00pm
  • Wednesday 8:30am - 5:00pm
  • Thursday 8:30am - 5:00pm
  • Friday 8:30am - 5:00pm
  • Saturday Closed

Other Services by Fairway Independent Mortgage Corporation

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Investment
Primary Residence
Loan Amount Up to $3,000,000
Interest Rate Types Offered N/A
Mortgage Programs
  • FHA
  • USDA
  • VA
Terms 10, 15, 20. 25, 30

Fairway Home Mortgage Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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