Lots of options
Fairway offers pretty much every type of mortgage you’d want — except interest-only loans. Fairway offers renovation loans and reverse mortgages in addition to the standard loan types. Most of Fairway’s loans have fixed or adjustable-rate options. And there’s also flexibility with loan terms, too. Fairway has loans with 10-, 15-, 20-, 25-, or 30-year terms.
Fairway also offers physician loans. These are mortgages for medical professionals who may have high salaries but are newer to their job and haven’t had time to amass a large down payment yet. These loans may be available with a low down payment or no down payment, and typically do not have PMI.
With more than 500 branches throughout the United States, it’s easy for most people to get in-person help if they need it.
Fairway prides itself on customer service, and it scores excellent marks in this area. According to reviews on Zillow, Fairway holds a 4.96 out of 5 star average (based on more than 24,600 customer reviews). And the most commonly-cited thing is how helpful Fairway’s employees are. Yelp reviews show similar borrower comments.
Besides being a lender, Fairway is also a mortgage servicer. There’s no guarantee that Fairway will service your loan after closing, but there’s a better chance than with most other lenders.
Fairway has a highly-rated mobile app, FairwayNOW. It allows borrowers to apply for a loan, scan and upload documents, and more.
View more information: https://www.fool.com/the-ascent/mortgages/fairway-independent-mortgage-review/