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finder.com’s rating: 4.1 / 5.0
Minimum credit score
Minimum down payment (Conventional)
Available in all states
|Loan products offered||Conventional, Jumbo, FHA, VA, USDA, Refinance, Reverse|
|Minimum credit score||Conventional: 620|
|Minimum down payment (Conventional)||3%|
|State availability||Available in all states|
Fairway Independent is not currently available on Finder
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Choose from a variety of home loan programs with the help of a mortgage specialist. Fair credit accepted.
Fairway Independent Mortgage Corporation — more commonly known as Fairway — is consistently rated highly by its customers. And we aren’t talking about just a few customer reviews. Between the Better Business Bureau (BBB) and Zillow, Fairway has amassed more than 30,000 reviews. With this many reviews and a near-perfect rating, it’s safe to say that customers are largely satisfied with this lender.
Fairway’s extensive list of home loan products and its physical presence in nearly every state give it a competitive edge. The company doesn’t limit its business to just one type of borrower. Instead, it offers a variety of home loans to meet the unique needs of homebuyers.
One thing it doesn’t make readily available, however, is its rates and fees. I like seeing a lender that’s more forthcoming than a generic statement on its website touting “fewer fees” or “lower interest rates.” In the case of Fairway, it doesn’t charge lender fees. That should be advertised since most lenders do. Fairway also loses a few more points for not offering a preapproval process that doesn’t require a hard credit check. All these things should be common practice. Buying a home can be stressful — the best lenders make the process easier.
In all, Fairway is a solid option for most types of homebuyers. Its customer record confirms as much. But just like with any lender, do your research and gather all the information you need to make an informed decision.
To find out if you’re eligible for a Fairway Independent home loan, visit the company’s website. Basic eligibility for a mortgage loan includes:
The documents you’ll need to apply for a home loan from Fairway Independent include:
For employed persons:
Fairway Independent doesn’t charge any lender fees, which means you won’t have to pay an application or origination fee. Note that you’ll still have to pay third-party fees such as appraisal fees, title services and recording charges.
To get started:
Fairway Independent also offers these specialized types of mortgages.
Compared to other lenders, Fairway Independent is a highly rated company that offers a solid range of home mortgage options, including conventional, government-backed and specialized loans.
And for borrowers with less-than-stellar credit, the company has a Creditool program where a credit analyst reviews your credit report and creates a credit improvement action plan for you at no cost.
But the company sells its loans after closing, which means the choice of loan servicer is out of your hands. While many lenders do this, you may prefer to stay with the same lender for the life of your loan. If you fall into this category, Axos Bank, Mr. Cooper or Quicken Loans may be a better choice.
Or, go with a lender that offers portfolio loans, such as North American Savings Bank. A portfolio loan “stays on the books” and offers less restrictive credit guidelines while considering alternative income streams.
Compare top brands by home loan type, state availability and credit score. Select See rates to get a personalized quote today.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
As of August 2022, Fairway Independent Mortgage Corporation has a stellar 4.97 out of a 5-star rating on the Better Business Bureau (BBB) website from nearly 3,600 customers. The company isn’t accredited with the BBB but has an A+ business rating, with 50 complaints closed in the past three years.
The company is also top-rated on Zillow as of August 2022, with over 32,000 customers giving it 4.95 out of 5 stars. Customers online speak highly of their interactions with the Fairway team, which they describe as a pleasure to work with: professional, attentive and responsive. Customers who filed complaints mention billing issues — often after loans were sold — and sales contracts falling through, resulting in financial stress.
Fairway Independent was founded in 1996 and is headquartered in Madison, Wisconsin and Carrolton, Texas. By 2017, it was licensed in all 50 states and had over 6,000 employees under its wing. Today, the company has 10,000 team members and nearly 700 branch locations in the US. The company originated $72.5 billion worth of home loans in 2021, up from $65.7 billion in 2020. Fairway Independent is also one of the nation’s top USDA lenders by loan volume.
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