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If you possess a solid credit history and a stable income, a conventional loan could be the ideal choice for you. Conventional loan programs typically offer the following advantages:
An adjustable-rate mortgage (ARM) is a type of home loan where the interest rate has the potential to change periodically following an initial fixed-rate period. Unlike fixed-rate mortgages, which maintain a consistent interest rate throughout the loan term, ARMs are subject to adjustments based on market fluctuations.
An FHA mortgage loan is a type of home loan that is backed by the U.S. Government’s Federal Housing Administration (FHA). This program plays a crucial role in helping individuals achieve their homeownership goals, particularly first-time homebuyers or those with low to moderate incomes. If you are searching for the home of your dreams
A fixed-rate mortgage refers to a type of home loan where the interest rate remains constant throughout the entire duration of the loan, whether it is the more common 30-year term or a shorter 15-year term chosen by some borrowers. The interest rate you secure at the time of purchasing your home remains unchanged
A jumbo loan mortgage refers to a home loan with an amount that exceeds the loan limits established by the Federal Housing Finance Agency (FHFA). These loans are typically associated with high-value properties, often priced at $800,000, $900,000, or even higher in many cases. It’s important to note that jumbo mortgages generally come
Physician loan mortgages, also known as Doctor Loans, encompass various possibilities that can differ depending on individual circumstances. At Fairway, we recognize that the needs and goals of medical professionals can vary greatly. Therefore, our mortgage advisors are equipped to evaluate your specific .
A refinance loan allows you to replace your existing mortgage with a new one, typically offering more favorable terms. When you opt for a refinance, your new lender pays off your original mortgage using the new loan. Essentially, you are refinancing or reevaluating the financing of your home with a different loan.
A renovation loan can be a game-changer when it comes to purchasing or refinancing a home and making desired repairs and improvements. At Fairway, we offer flexible solutions to help you achieve your renovation goals.
A reverse mortgage loan, also known as a Home Equity Conversion Mortgage (HECM), is a specialized type of mortgage loan designed for homeowners aged 62 years or older. This unique financial tool allows eligible individuals to tap into the equity they have built in their homes to access funds for retirement.
A USDA mortgage, also known as a USDA/Rural Development Loan, is specifically designed to promote homeownership in rural areas, suburbs, and exurbs. By offering affordable financing options, this program aims to create thriving communities and enhance the quality of life in these regions.
A renovation loan can be a game-changer when it comes to purchasing or refinancing a home and making desired repairs and improvements. At Fairway, we offer flexible solutions to help you achieve your renovation goals.
Fairway Independent Mortgage Corp.
NMLS #2289
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