The homebuying process is a complicated one. It’s exciting and adventurous, but it’s also complicated. If you’ve purchased a home before, you’ve gathered an idea of precisely how difficult it can be throughout the process. If you’re a first-time homebuyer, you have an idea what you’re getting into. Buying a home shouldn’t be stressful, but it is. That’s why Fairway Independent Mortgage works hard to ensure your mortgage application process is as streamlined and successful as possible.
Getting a Mortgage
You don’t wait to find a home to find a mortgage. The mortgage is the first thing you find. You’ll want to compare rates with different companies, and Fairway is one of the lenders you want to consider. This is a company that offers low rates, competitive pricing, and a chance for people who might not otherwise find approval for a mortgage to find what they’re looking for.
The reason you need a mortgage first is to find out what you can afford. You can do the math yourself, but you won’t know what you can afford until a bank tells you what they’re willing to lend. Pre-approval is necessary for many, and it’s how you know what to buy. When you are pre-approved for a loan, you know what price range you can look for when shopping for a home. You also have the advantage. Many realtors require prospective buyers submit a pre-qualification form to their office before they’ll show them any house.
This is for two reasons. The first is to protect their own time. Realtors are independent contractors not paid unless they sell a home. The last thing they want to do is take time from real customers to help those who aren’t serious about buying look at homes. The other reason this is so important is your chances of being able to purchase a home. Many sellers won’t work with buyers who aren’t pre-approved. If you put in an offer on a house with more than one offer, some sellers will ignore your higher offer in favor of a guaranteed offer accompanied by a pre-approval.
Fairway offers many mortgage types for buyers, so there are options available for anyone who needs a mortgage.
- Conventional loans
- FHA loans
- VA loans
- Jumbo loans
- Adjustable-rate loans
- USDA loans
- VA loans
- Reverse mortgages
- Fixed-rate loans
No buyer is left behind in this process. Fairway wants to help all people find the home they want, even if they’ve had financial difficulties in the past. FHA and USDA loans are specially created and backed by the federal government to assist buyers with challenged credit histories, and they are given to those who have a low down payment or no down payment at all.
Other loans are available to buyers who have special needs. No home can be purchased with a traditional mortgage if the asking price is above $417,000. This is why Fairway offers jumbo loans for those buyers.
There are loans for everyone at Fairway. If you’ve never heard of this lender, don’t write them off. They’re not as famous as other lenders, but they work hard for their customers. The company has an excellent reputation among their borrowers for making personal connections and making it possible for their customers to receive the best service. Personal lenders are given to each applicant, and that lender works with the applicant from the beginning of the loan process all the way to the end of closing.