A mortgage is a big decision. Your home financing should be handled by a mortgage lender who recognizes the whole picture and creates your Mortgage Analysis Plan built around your goals. What is the difference between a Mortgage Broker and a Mortgage Banker?
A Mortgage Banker like FAIRWAY Independent Mortgage Corp., is able to originate, process, underwrite, fund your loan and control the process from start to finish with no middleman, which insures our ability to close your loan on time with no hassles.Schedule a Pre-Purchase Consultation to Get Pre-Approved.
A Mortgage Banker like FAIRWAY Independent Mortgage Corp., is able to originate, process, underwrite, fund your loan and control the process from start to finish with no middleman, which insures our ability to close your loan on time with no hassles.Schedule a Pre-Purchase Consultation to Get Pre-Approved.
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About Us
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Whether you're a home buyer needing pre-approval or a home owner looking to improve your month-to-month financial picture, Fairway Independent Mortgage is a great mortgage resource for you. Fairway's first Pennsylvania branch was opened in 2006 in Lancaster by a small team with a wealth of experience in the financial industry.
Conventional Purchase/Refinance
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Conventional purchase and refinance mortgages can be fixed rate or adjustable rate mortgages, on primary residences or investment properties. If you are planning to borrow $484,350 or less for a single-family or one to four family home, you should be looking at a conforming conventional loan.
Conventional conforming loans are not made by a government entity, like FHA and VA loans, but instead follow the terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac.These established guidelines generally call for a minimum credit score, certain income requirements, and a minimum down payment of 3% for first time home buyers and generally between 5% and 20% down payments.
Conventional conforming loans are not made by a government entity, like FHA and VA loans, but instead follow the terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac.These established guidelines generally call for a minimum credit score, certain income requirements, and a minimum down payment of 3% for first time home buyers and generally between 5% and 20% down payments.
Fha
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The Federal Housing Administration (FHA) is a federal agency within the US Department of Housing and Urban Development (HUD). The FHA guarantees both fixed and adjustable rate mortgages offered through Fairway. The FHA exists to facilitate housing opportunities and is widely used for first-time home buyers.
Low Down Payment PHFA
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The Pennsylvania Housing Finance Agency (PHFA or the Agency) offers home purchase loans and refinance loans to qualified borrowers throughout the Commonwealth, through approved lenders. This loan program offers competitive 30 year fixed interest rates, lower fees, and closing cost and down payment assistance programs.
Reverse Mortgages
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A Reverse Mortgage makes payments to you, as opposed to you making payment to your mortgage. This can be in a lump sum or monthly, depending on what kind of mortgage program you use. A Reverse Mortgage is a loan program specifically designed for people aged 62 years or better, that allows you to receive payments from your home using your accumulated equity.
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