Fairway Independent Mortgage Corporation Review 2022

At a glance

4.3

Rating: 4.3 stars out of 5

Bankrate Score

Loans offered

Conventional, jumbo, FHA, VA, USDA; fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; construction and renovation loans; reverse mortgage; physician loans

Nationwide Availability

Available in all U.S. states

Min. credit score required

Undisclosed

Pros and cons

Fairway Independent Mortgage Corporation overview

Fairway Independent Mortgage Corporation is good for

Borrowers interested in a wide variety of loan options and stellar service

Breakdown of Fairway Independent Mortgage Corporation overall score

• Affordability: Fairway Independent Mortgage’s rates might not be as competitive as those of other lenders; you’ll need to contact a loan officer to determine the cost for your specific loan.

• Availability: This lender works with borrowers in all states and offers a range of financing solutions, including loans specifically designed for physicians.

• Borrower experience: You can initiate a request for a rate quote via the Fairway Independent Mortgage website or app. The lender routinely ranks near the top of J.D. Power’s rankings for customer satisfaction. 

Methodology

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.

Affordability: 3/5

Fairway Independent Mortgage doesn’t display its mortgage rates online, and you’ll need to contact a loan officer to obtain a personalized quote. Its lender fees might include an origination fee, rate-lock fee and other closing costs.

Availability: 5/5

Fairway Independent Mortgage provides conventional loans as well as government-insured loans (FHA, VA and USDA), along with options to refinance your existing mortgage. The lender also offers construction loans, reverse mortgages and loans tailored to the unique needs of medical professionals.

Borrower experience: 5/5

Fairway Independent Mortgage Corporation is accredited by and has an A+ rating from the Better Business Bureau, and the lender consistently ranks highly in J.D. Power’s U.S. Primary Mortgage Origination Satisfaction Study. It funded more than $72.5 billion in loans in 2021 alone.

If you’re interested in a loan through Fairway, you can get the process started with an online prequalification or the lender’s Advantage Pre-Approval, which is a fully underwritten approval. Simply input information about yourself and the loan you’re seeking online; connect with a loan officer, which is easy to find through the lender’s website; or use the FairwayNow app, which also allows you to track your loan’s status, among other perks. When you’re ready to apply for a mortgage, you can begin that process online or through the app, as well. Applying through the app takes just 10 minutes, according to the lender.

There are also features on Fairway’s website that can help inform what type of loan you get, including an amortization and payment calculator and an FAQ and homebuyers guide. If you’re looking for help online, you can fill out a form on the website, email the lender or navigate to your loan officer’s profile.

Refinancing with Fairway Independent Mortgage Corporation

Fairway Independent Mortgage Corporation offers refinancing, including rate-and-term refinancing, in which you change your interest rate, loan term or both; cash-out refinancing, which refinances your current loan and provides you with extra funds based on your level of home equity and goals; and streamline refinancing, which allows you to refinance an FHA or VA loan with less paperwork. The lender doesn’t display refinance rates or fees on its website, however, so you’ll need to get in touch with a loan officer to learn what the cost and savings might be.

Alternatives to Fairway Independent Mortgage

• LoanDepot review – A major online lender with fewer locations nationwide, but reduced costs for repeat refinancers
• Rocket Mortgage review – One of the biggest names in the mortgage market, but with less loan options
• Wells Fargo Home Mortgage review – A big-bank lender with thousands of branches and online cost estimates