Fairway Independent Mortgage Corporation offers a wide variety of loan options to meet the individual needs of our customers. Our mortgage professionals will take the time to review your lifestyle and financial needs to provide tailored solutions designed to help you select the best decision that fits.
Please contact your Fairway mortgage professional to learn more.
A Loan Designed Specifically for You

Loan Options

Interest Rates

Highlights

Fixed-rate Fixed
  • Principle and interest payment remains the same for the entire term of the loan. (Not including taxes and insurance).
  • Protection against rising interest rates.
Adjustable-rate Adjustable
  • Typical starts with lower interest rate but could potential adjust up or down over term of loan depending on market fluctuations.
  • Initial interest rate is fixed typically for 3-10 years.
Conventional Fixed or Adjustable
  • Straightforward process, underwriting requirements, and fees.
  • Second home purchase options.
Jumbo Fixed or Adjustable
  • Purchase a more expensive property, over the conventional limit of $424,100 or above, depending on the market
  • Variety of terms available.
FHA Fixed or Adjustable
  • Low down payment options, could be a good option for first-time homebuyers in certain markets.
  • Flexible income and credit requirements.
USDA Fixed or Adjustable
  • No down payment.
  • Low credit score requirements.
  • Flexible credit underwriting requirements.
  • Potentially a good fit if purchasing a property in a rural area.
VA Fixed or Adjustable
  • Low to no down payment.
  • Low income and credit requirements.
  • No mortgage insurance.
  • Limited to active or Veteran military members
Refinance Fixed or Adjustable
  • May be able to refinance to a lower interest rate.
    Consolidate debt.
  • Turn your home equity into cash. *
Renovation Mortgage Fixed or Adjustable
  • Rolls the cost of upgrades and a home purchase or refinance into one loan
  • Withdraw a portion of your home’s equity
Reverse Mortgage Fixed or Adjustable
  • Withdraw a portion of your home’s equity
  • Paying monthly mortgage payment is optional** (must continue paying taxes, insurance & maintenance payments)
  • Purchase a home that better suits your needs**
  • Must be 62 years or older to quality

*Appraised property value may affect loan amount.
**The cash from equity is usually tax free. This information does not constitute tax advice or financial planning advice. Please consult a tax advisor for tax advice and a financial planner regarding enhancements to retirement plans. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.  Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Must be at least 62 years old. Loan proceeds are not considered income and will not affect Social Security or Medicare benefits. Your monthly reverse mortgage advances may affect your eligibility for some other programs.  Consult a local program office or your attorney to determine how, or if, monthly reverse mortgage payments might affect your specific situation.  At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage with interest from your assets.  We will charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which we will add to the balance of the reverse mortgage loan.  The balance of the reverse mortgage loan grows over time and interest will be charged on the outstanding loan balance.  You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and you are therefore responsible for paying property taxes, insurance, and maintenance.  Failing to pay these amounts may cause the reverse mortgage loan to become due immediately.  Interest on reverse mortgage is not deductible to your income tax return until you repay all or part of the reverse mortgage loan.