THE FAIRWAY PROCESS

Where you know you will always get to the closing table. Why are we so confident? That’s because our Fairway Advantage Pre-Approval means we underwrite the loan before you go under contract to ensure you’re loan will close!

Still not sure? We offer two program options to choose from:

Fairway Advantage Pre-Approval*

Fairway Closing Guarantee (up to $7,500)**

Learn More

The Home Buying Process

1Pre-Approval***

First step in the homebuying process should always be a pre-approval. You will meet with a Loan Officer, provide documents, and pull a credit report to find out how much home you qualify for.

***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.

2Home Search

With a pre-approval in hand, you and your Realtor will start looking at homes. Once you find a home you love, you, your Realtor, and your Loan Officer will look at the numbers to ensure that home fits your budget and submit a strong offer to the seller using either the Certified Pre-Approval or the Fairway Advantage Pre-Approval*.

3Under Contract

Congratulations! The offer has been accepted by the seller and you are officially under contract. You will now get with your Loan Officer to review the numbers and finalize your mortgage application.

4Disclosures

Once you have found the loan program for you and submitted the final application, you will be sent initial disclosures to review and sign. These numbers will be specific to the home you are under contract for and will review the terms and loan estimates.

5Loan Approval

Next step is for our operations team to review your loan package and work with an underwriter for a loan approval.

6Loan Conditions

Upon initial loan approval, the operations team will work with the underwriter for final approval. Our team will reach out to you if anything additional is needed to obtain the clear to close.

7Clear to Close

Once you get the clear to close, that means our team is ready to prepare your closing package. Your Loan Officer will send the final closing disclosure and review all the numbers with you, so there are no surprises!

8Loan Closing

The best day is closing day! The day you sign the final loan documents.

9Get the keys to your home!

Congratulations! You are officially a homeowner!

Are we a good fit for you?

Find out what you qualify for.

Find a loan officer

Find the perfect closing guarantee program

Compete in a tough market

We understand the importance of being the most favorable deal on the table. The winning combination below will give you the buying power to compete with Cash Offers! 

When you use our Fairway Advantage Pre-Approval*, which is a fully underwritten pre-approval, you are eligible for the Cash Guarantee program. 

Some Fairway Cash Guarantee Advantages:

  • Seller will receive peace of mind knowing the financing is guaranteed
  • Buyer can compete with cash offers
  • Borrower does not have to pay any additional fees to use this program
  • If the guarantee is triggered, the seller may opt for Fairway to NOT buy their house and instead walk away from the deal with $10,000 paid by Fairway, and the contract will be terminated. 

Additional requirements and details apply. Contact us for more details!

*Fairway Advantage pre-approval is based on a full review of the borrower’s creditworthiness and is contingent upon there being no material changes in the borrower’s financial condition or creditworthiness at the time of final loan approval. Final loan approval is subject to the following conditions: (1) borrower has identified a suitable property, and a valid appraisal supports the proposed loan amount; (2) a valid title insurance binder has been issued; and (3) borrower selects a mortgage program and locks in an interest rate that will support the pre-approved monthly payment amount. Loan must close before the expiration date provided in the pre-approval. Offer not available on USDA, bond, or DPA programs. Sale of home proceeds contingency not allowed. Gifts not deposited are not allowed. Please note that submitting verifying documentation is not a requirement to receive an estimate of closing costs associated with a mortgage loan.

It’s important to make sure you have a strong offer from a lender that is confident they can get you to the closing table. That’s why we have a closing guarantee that guarantees you up to $7,500 if your loan doesn’t close. 

How it works: 

    • You provide any documents needed in order to complete your loan approval
    • We provide a pre-approval which means your loan WILL CLOSE   
    • Find the house that you love & feel confident when you buy 

If you do not close due to a financing reason we pay you up to $7,500

  • Short-term moving/relocating up to $1,500 
  • Home inspection or appraisal expenses up to $1,000 
  • Any forfeited earnest money up to $5,000

Additional requirements and details apply. Contact us for more details! 

**Up to $5,000 of the forfeited earnest money deposit funds, up to $1,500 total toward the reimbursement of lost moving and storage expenses, and/or up to $1,000 total toward the reimbursement of lost inspection and appraisal fees guaranteed to buyers if Fairway Branch 8550 doesn’t close as per the sales contract and any addenda. Guarantee period starts with the completion of the application with Fairway and is only valid under the following conditions: 1) Borrower must submit all documentation within 24 hours from the time requested; 2) Borrower may not change the loan product(s) and/or terms originally applied for; 3) Borrower is not applying for VA, Bond or Brokered Loan; 4) missed contract closing date is not attributable to third parties such as a lack of certificate of occupancy, unresolved title issues, etc., a closing date extension request from buyer or seller or events outside the control of Fairway Independent Mortgage Corporation, including inclement weather, natural disaster, or other catastrophic events. Contact your Fairway loan officer to determine if you qualify. Settlement service providers are not eligible. May not be redeemed for cash. If applicable, Guarantee will be applied at closing as a lender credit on the Closing Disclosure. Guarantee subject to change without notice and is not valid with any other incentives or discounts. Borrower is responsible for the down payment. No part of credit can apply to or offset down payment. Loan must close on or before April 30, 2023. Promotion expires April 30, 2023.

No Obligation Mortgage Consultation.

Call us today at 704-541-1172

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