Fairway Mortgage Refinance
in
Mortgage Refinance from Fairway Independent Mortgage Corporation
· NMLS ID #2289
Unaffiliated
Fairway Mortgage Refinance
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| Community Rating |
Rating not yet determined |
| Loan Amount | Up to $3,000,000 |
| Loan Term (Years) | 10 - 30 years |
Fairway Mortgage Refinance Review
Fairway Mortgage Refinance is offered by Fairway Independent Mortgage Corporation (NMLS #2289), a direct lender founded in 1996 and based in Madison, WI. Fairway Mortgage Refinance is available in 50 states (and Washington, DC).
Key Takeaways
- 4 different mortgage programs offered. Fairway Mortgage Refinance refinances FHA, FHA 203k, 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.
- Non-standard interest rates available. Fairway Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
- Considers personal use and investment properties. Refinancing 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 Mortgage Refinance Pros & Cons
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Fairway Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Fairway Mortgage Refinance?
The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Fairway Mortgage Refinance offers mortgage refinancing with terms ranging from 10 to 30 years.
How long does Fairway Mortgage Refinance take to refinance?
Fairway Mortgage Refinance does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.Does Fairway Mortgage Refinance charge a mortgage origination fee?
Yes, Fairway Mortgage Refinance will charge a loan origination fee.
What mortgage programs does Fairway Mortgage Refinance offer?
Fairway Mortgage Refinance offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: 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.
What property usage types does Fairway Mortgage Refinance allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Fairway Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
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Contact
- Headquarters
-
4801 S Biltmore Lane
Madison, WI 53718 USA - (866) 912-4800
- Visit Site
- Email Support
Other Services by Fairway Independent Mortgage Corporation
Availability
Available in 50 states and Washington, D.C.
- Alaska
- Alabama
- Arkansas
- Arizona
- California
- Colorado
- Connecticut
- Washington, DC
- Delaware
- Florida
- Georgia
- Hawaii
- Iowa
- Idaho
- Illinois
- Indiana
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maryland
- Maine
- Michigan
- Minnesota
- Missouri
- Mississippi
- Montana
- North Carolina
- North Dakota
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- Nevada
- New York
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Vermont
- Washington
- Wisconsin
- West Virginia
- Wyoming
Feature Breakdown
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Fairway Mortgage Refinance Community Reviews
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