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Fairway Independent Mortgage Corporation Review 2022

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At a glance

Fairway Independent Mortgage Corporation

4.3

Rating: 4.3 stars out of 5
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Bankrate Score

Mortgage Percent

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

Location

Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

Undisclosed

Pros and cons

Checkmark Pros

  • Available in all states with more than 700 branch and satellite locations
  • Extensive learning resources for borrowers, including Home.com
  • Streamlined electronic submission of loan documents
  • FairwayNow mobile app allows users to track application status, message the lender, upload documents, calculate payments and more

Close X Cons

  • Doesn’t offer home equity lines of credit (HELOCs)
  • Specific rates not posted online

Fairway Independent Mortgage Corporation overview

Fairway Independent Mortgage Corporation is one of the top mortgage lenders in the U.S., available to borrowers nationwide and with branch locations in 48 states (not Alaska or West Virginia) and Washington, D.C. Its loan options include conventional and government loans, refinancing and physician loans for doctors and other medical professionals. The lender currently maintains dual headquarters in Madison, Wisconsin, and Carrollton, Texas, and was founded in 1996.

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

Fairway Independent Mortgage Corporation consumer reviews

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Rating: 5 stars out of 5

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The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Written by

Jeff Ostrowski

Senior mortgage reporter

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Edited by

Suzanne De Vita

Arrow Right

Mortgage editor