Your home isn't just a place to live; it's an investment for you and your family's future.
Here at Fairway Independent Mortgage Corporation, we offer a wide variety of loan options to meet the unique needs of our customers. We understand selecting the right loan product can be overwhelming; however, our mortgage professionals will provide tailored advice to help you make the best decision for you and your family.
Please contact your Fairway mortgage professional to learn more.
Interest Rate and monthly payments remain the same for the entire term of the loan.
Protection against rising interest rates.
|Plan on staying in your home for an extended period of time.|
|Adjustable-Rate Mortgage (ARM)||Adjustable||
Homeowner could potentially lower their monthly payments with the lowered interest rates.
Initial interest rate is fixed typically for 3-10 years.
|Plan on selling or refinancing within a few years.|
|Conventional Mortgage||Fixed or Adjustable||
Lower interest rates.
Fewer penalties and fees.
Second home purchase options.
Have good credit and a larger down payment to possibly
receive lower rates with more flexible terms.
|Jumbo Mortgage||Fixed or Adjustable||
Purchase a more expensive property.
Variety of terms available.
|Purchase a property above the conforming loan limits ($417,000 in most areas).|
|FHA||Fixed or Adjustable||
Low down payment options.
Flexible income and credit requirements.
|Are a first-time homebuyer or have a limited amount of funds for a down payment.|
|USDA||Fixed or Adjustable||
No down payment.
Low credit score requirements.
Flexible credit underwriting requirements.
|Purchase a home in USDA designated rural areas.|
|VA||Fixed or Adjustable||
Low to no down payment.
Low income and credit requirements.
No mortgage insurance.
|Are active-duty military, a veteran or military spouse.|
|Refinance||Fixed or Adjustable||
May be able to refinance to a lower interest rate.
Turn your home equity into cash.*
|Already own a home and want to restructure your mortgage fit your current financial situation.|
|Renovation Mortgage||Fixed or Adjustable||
Rolls the cost of upgrades and a home purchase or refinance into one loan
|Own or want to purchase a home that needs repairs or renovations.|
|Reverse Mortgage**||Fixed or Adjustable||
Withdraw a portion of your homeÃ¢â‚¬â„¢s equity
Paying monthly mortgage payment is optional
Purchase a home that better suits your needs**
|Are 62 or better and want to turn your home equity into tax-free cash without having to make monthly mortgage payments.**|