Fairway Independent Mortgage Review 2024

Fairway Independent Mortgage offers most major home loan options, including:

For homeowners, Fairway Independent Mortgage also offers:

Borrowers who are considering a loan with Fairway Independent Mortgage can start the process online by either filling out a prequalification questionnaire, applying for a home loan or applying for a refinance. Or you can start by providing your contact information, and a representative will call you.

Whichever route you take, you will likely speak in person or by phone with a Fairway representative who can present your loan options. Rates are not available until Fairway runs a credit report and you have submitted information such as bank statements, pay stubs and tax returns.

Upon approval and after the home is appraised, Fairway will contact you with updates. You’ll be asked to confirm details seven to 10 days before closing and then contacted again three to five days before closing to review final numbers.

Once your loan closes, Fairway will transfer your loan to a new mortgage servicer and let you know where the first payment should be sent.

Fairway does not disclose any information about its fees, terms or conditions on its website, and a company spokesperson declined to provide more details.

Because Fairway transfers its loans to other mortgage providers, discount programs may vary depending on the new company. Some lenders may offer a small discount for setting up automated payments, for example.

Fairway Independent Mortgage qualifications will vary depending on the loan program you are seeking. Conventional loans follow the Fannie Mae and Freddie Mac guidance, while FHA loans and other programs have their own criteria.

Credit score requirements vary slightly among the major loan programs. For example:

For those who have borderline credit, a Fairway loan officer may suggest that you speak with Fairway’s Creditool team. A representative will review your credit report and suggest a credit improvement plan for free.

Fairway Independent Mortgage operates in all 50 states and Washington, D.C. However, it does not have physical branches in West Virginia.

Fairway Independent Mortgage is rated A+ by the Better Business Bureau and is a BBB-accredited business. The Consumer Financial Protection Bureau received 47 mortgage-related complaints in 2021 about Fairway. Common complaints were applying for or refinancing a mortgage, having trouble during the payment process, and closing on loans. The company responded to all but one complaint in a timely manner; 36 complaints were closed with explanation and 11 with monetary relief.

Fairway Independent Mortgage’s customer service phone line is open Monday through Friday from 8:30 a.m. to 5 p.m. Central Time and can be reached by calling 800-201-7544. Customers can also submit questions via email to [email protected] or by completing and submitting an online contact form.

Fairway Independent Mortgage’s mobile app allows borrowers to fill out their loan applications, upload scans of documents, check in during the loan process and connect with their loan officer.

Some loans may also qualify to be closed remotely using the Fairway ExpressClose platform.