Mortgage Home Purchase Loans or Refinance Loans without the Hassle!
Choosing a purchase or refinance loan product that matches your goals doesn’t have to be stressful! We’re here to make the loan process easier, with tools and knowledge that will help guide you along the way.
Refinancing is the process of paying off your existing mortgage with a new mortgage. Typically, you refinance your mortgage to reduce your interest rate and monthly payment or change the length (or term) of your mortgage. You may also refinance to take cash out from your home’s equity.
The Home Purchase Loan Process
Here’s how our home purchase loan process works:
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
Do I Qualify?
To determine if you qualify, lenders review your total monthly debt (proposed housing payment + regular monthly debt) as a percentage of your total gross monthly income. The acceptable percentage (DTI) will vary depending upon the specific loan program for which you apply.
*Debt-To-Income (DTI) ratio is monthly income debt/expenses divided by gross monthly income. **This advertisement does not constitute tax advice. Please consult a tax advisor regarding your specific situation.***Pre-approval is based on a preliminary review of credit information provided to Fairway Independent Mortgage Corporation which has not been reviewed by Underwriting. Final loan approval is subject to a full Underwriting review of support documentation including, but not limited to, applicants’ creditworthiness, assets, and income information, and a satisfactory appraisal. ****VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.