Fairway Independent Mortgage Corporation Client, Loan, Review 2024
Fairway mortgage rates and fees · A lender’s average origination fee compared with the median of all lenders reporting under the Home Mortgage Disclosure Act. And Fairway is licensed to lend mortgages in all 50 states and Washington DC. And it’s known for having exceptional customer service.
This company came second overall in J.D. Power’s 2019 Mortgage Customer Satisfaction Study and has a top A+ rating from the Better Business Bureau. Excellent company with great service. Highly recommend Fairway. This was our first home purchase, and everything went smoothly.
My husband and I are so very pleased. Customer service: Fairway prides itself on customer service, and it scores excellent marks in this area. According to reviews on Zillow and Fairway ..Jennifer is very efficient and confident in the process. Her customer service is second to none. She goes above and beyond to make every step manageable. We …
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Fairway Independent Mortgage Corporation Client, Loan, Review 2024
Fairway Independent Mortgage Corp. is based in Madison, Wisconsin, and has funded nearly $130 billion in loans since the company began in 1996 – and more than $21.8 billion in 2018 alone. The lender offers several mortgage products, including conventional, Federal Housing Administration, U.S.
Department of Agriculture, U.S. Department of Veterans Affairs, and refinancing loans. Fairway Independent Mortgage also provides jumbo loans for home purchases in high-cost markets, renovation loans, adjustable-rate mortgages, and reverse mortgages. Fairway is an independent mortgage company and serves as a mortgages broker and direct lender.
Best Features
- The selection of mortgages includes VA and USDA loans, which have no down payment requirements.
- A+ customer service rating with the Better Business Bureau.
- Renovation loan options include the HomeStyle Renovation Loan, which combines the cost of remodeling and the mortgage into one loan.
Drawbacks
- No home equity loans or lines of credit are available.
- A down payment of at least 5% is required, except for VA, FHA, and USDA loans and first-time homebuyer programs.
Which Mortgage Products Does Fairway Independent Mortgage Offer?
Borrowers can apply for:
- Conventional loans
- Adjustable-rate mortgages
- FHA loans
- USDA loans
- VA loans
- Refinancing
- Renovation loans
- Reverse mortgages
- Jumbo loans
How Can I Qualify for a Fairway Independent Mortgage Home Loan?
Fairway Independent Mortgages doesn’t publicly disclose qualification requirements, but as with other mortgages companies, Fairway will review your credit history. Typically, borrowers who want a conventional mortgage need a credit score of 620 or higher, and some lenders require a credit score of 660 or higher.
Expect to pay a down payment of at least 5% for most Fairway Independent Mortgages home loans. Loans insured by the federal government, including VA, FHA, and USDA loans, have low or no down payment requirements.
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What Mortgage Fees Does Fairway Independent Mortgage Charge?
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Closing costs include the loan origination fee, discount points, appraisal costs, and other property transfer expenses. You can expect these costs to total about 2% to 3% of the loan amount.
How Is Fairway Independent Mortgage’s Customer Service?
Fairway Independent Mortgages has an A+ rating with the Better Business Bureau, with an average five-star rating from customer reviews.
In 2020, the Consumer Financial Protection Bureau received 43 mortgages-related complaints about Fairway Independent Mortgages. The most common issues were connected to:
- Applying for or refinancing a mortgage
- Closing on a mortgage
- Trouble during the payment process
Fairway Independent Mortgages provided a timely response to the CFPB on all issues.
Does Fairway Independent Mortgage Offer Online Features?
Fairway Mortgage has a mobile app called FairwayNow 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, get property alerts, calculate payments, and track progress.
Aside from the app, you can apply online for a loan with Fairway Independent Mortgages. However, the closing process is typically done in person.
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Is Fairway Independent Mortgage a Good Company?
Fairway Lending has excellent customer service ratings and offers conveniences like its FairwayNow app. Plus, you’ll find a selection of mortgage and loan products, including renovation loans and refinancing.
While you can’t get a home equity line of credit with Fairway Independent Mortgages, and you’ll need 5% down for a conventional loan, the company provides lots of choices to different types of borrowers.
Fairway Independent Mortgage Loans Are Best for:
- Borrowers who expect great customer service.
- Homebuyers who want government-backed VA, FHA, or USDA loans.
- Borrowers who want a selection of mortgage products.
Is Fairway Mortgage a good company?
Fairway lending has excellent customer service ratings and offers conveniences like its FairwayNow app. … While you can’t get a home equity line of credit with Fairway Independent Mortgages. You’ll need 5% down for a conventional loan; the company provides lots of choices to different types of borrowers.
Does Fairway Mortgage sell its loans?
Fairway is unable to change whom your loan is sold to and who services it. After the servicing of your mortgage loan transfers, your new servicer controls the activities and decisions supporting your mortgage loan.
How do you know if a mortgage company is legit?
First, check out the loan company on your local BBB website. Then, do a quick online search and look up customer reviews. Finally, check with your state’s attorney general to make sure that the lender is registered with the proper state government agencies.
Who owns Fairway Independent Mortgage?
Steve JacobsonSince establishing Fairway Independent Mortgages Corporation in 1996, founder and CEO Steve Jacobson has been an innovative leader in the mortgages industry.
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