Category Archives: Mortgage

Fairway Mortgage 2018

2018 was our biggest year yet! Fairway Mortgage 2018 2018 was Fairway Independent Mortgage Corporation's biggest year yet!Let us share with you why we think Fairway is the greatest!Don't hesitate to reach out us with any of your mortgage needs! Posted by Fairway Independent Mortgage Corporation Salt Lake City, Utah on Monday, January 14, 2019 We’ve just celebrated the most successful year in Fairway’s history, serving over 110,000 clients with mortgage origination volume at $26.5 billion in mortgage origination. If … Read more

2008 vs. Now: Are Home Owners Using Their Homes as ATMs Again?

One of the questions we get asked most often from clients is, “What are the differences between the mortgage meltdown and the way the mortgage market is today?” The number one difference that we can see is the lending standards that are in place. In 2008, through that period, there was very loose lending standards. You barely had to have a credit score, you could be just out of bankruptcy or foreclosure, you didn’t have to prove income, you didn’t … Read more

The Behind the Scenes of how Mortgage Lenders , Brokers, and Realtors get Paid – What you Don’t Know Might Surprise You! 

If you are like many of the clients we work with, you’re likely unclear how mortgage and real estate professionals are paid.  You might even assume that because you are a doctor, the eyes get big and the real estate or mortgage person you are working with only sees dollar signs, and since this is not your area of expertise, you may have some concerns. Here are a few comments we hear from clients regularly: “I’m not going to use … Read more

Can I Use My Home Equity for a Down Payment?

“Can you use a home equity line of credit as a down payment to purchase a new home or a new investment property?” That’s a question we get all the time, and the simple answer is yes. That is absolutely an allowable source of funds. Most mortgage underwriting guidelines will allow you to borrow money to be used for a down payment, provided that that money is securitized or collateralized by an asset. If you have a free and clear … Read more

When Will The Real Estate Bubble Pop? – A look into the Supply and Demand of the Housing Market

If you’re one of the millions of Americans who wants to buy a home this year, the constant increases in property values might have you feeling edgy. When you keep getting outbid on homes, you wonder if it’s wise to offer more for the next home you fall in love with. People who already own homes fret, too. They worry that they’ll sell their current home and then not find a move-up home they can afford. It can be really … Read more

When Will The Real Estate Bubble Pop? – A look into the Supply and Demand of the Housing Market

If you’re one of the millions of Americans who wants to buy a home this year, the constant increases in property values might have you feeling edgy. When you keep getting outbid on homes, you wonder if it’s wise to offer more for the next home you fall in love with. People who already own homes fret, too. They worry that they’ll sell their current home and then not find a move-up home they can afford. It can be really … Read more

Why Work With Fairway?

  The main benefit with working with Fairway Independent Mortgage Corporation is that we have a local team and in office underwriters so we can be fast in approving and closing loans to get our clients in their dream home fast, in view of this competitive marketplace. We offer a 17-day close guarantee or we will pay the seller $250 per day! We have never had to actually do that, that’s how confident we are in our promise to take … Read more

17 Day Close Guarantee!

It’s no secret that there is a massive shortage of housing across the country. As a partner, we think it’s our responsibility to help you get your offer accepted in a really competitive real estate market. We work very closely with your real estate agent to make sure that we craft the most competitive offer humanly possible. The question we ask ourself is, if we put ourselves in the seller’s shoes, what could we do to make them feel the … Read more

Renovation Home Loans

One of the questions we have been getting a lot is, do you have renovation loans? And, what is a renovation loan? A renovation loan is a loan that will enable you to acquire the property, and fund the renovation of the home. This type of loan is kind of like a construction loan but instead of buying a lot a building a house, you’re buying an existing home and you’re doing a renovation. You can actually do a pretty … Read more

Rent Vs Buy, What’s Your Best Option in Today’s Market?

I just had a phone call with a client who asked the question: “Josh, we have about 10% to put down and we’re trying to figure out should we wait another year so that we have saved up 20% for a down payment, or should we go ahead and buy now?” I said, “Well that’s a great question. Before I answer the question, let’s think about what kind of a market we’re in and what might change between 2018 and … Read more

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