Fairway Mortgage Documents

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Transcript of Fairway Mortgage Documents

  • 7/28/2019 Fairway Mortgage Documents


    Who We Are

    Fairway offers you the products, support and technology of a national service organization with

    benefits of a local presence dedicated to providing you with legendary service, exceptionalknowledge, and lasting relationships. Our blend of local expertise and underwriting combined w

    the power and clout of the Nations top 15 lenders, brings you the dedicated service and solutioyou deserve!

    Our Core Convictions

    o Truth is the basis for everything we do and must not be compromised

    o Everyone knows their job and carries it out at the height of professio


    o We treat all parties in the real estate transaction with the highest respect

    o Our can do culture emphasizes sharing and cooperation among all parties

    o When you work with Team Fairway, our entire team works on your behalf

    Established in 1996, Fairway Independent Mortgage was built on a foundation of customer servWe understand that the process of buying a home can be scary and nerve-wracking, especially

    first time buyers says Fairway CEO, Steve Jacobson. Our teams work together to make sure there are no surprises at closing.

    Fairway opened its first New England branch in 2006, and since then has rapidly grown to the 3

    ranking lender in Massachusetts 2012. Today there are 10 New England locations to serve you!

    Fairway treats all customers as if they were our only customer. We dont strive to be the bigges

    we work each and every day to be the BEST!

    2013 Fairway Independent Mortgage Corporation 18 Crawford St. Needham MA 02494 / NMLS ID#2289 / LICENSED MORTGAGE LENDER / EQUAL HOULENDER Massachusetts Lender License # MC2840 / MA Broker License # MC2840 / Connecticut Lender License # ML-BCH-15751 / Licensed by theNew Ham

    Banking Department: NH Mortgage Banker Branch License # 15041-MB-BCH / Rhode Island Licensed Lender: RI Lender Branch Certificate # 20052004LLB 01 / RI

    Broker Branch Certificate # 20052005LB B01


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    o Truth and Transparency are what matters most to us

    o No hidden costs or unpleasant surprises in the loan processo You will work with the same knowledgeable, deeply experienced Fairway Team

    members at each stage of the mortgage process

    o Detailed explanations of all documents and costs will be provided

    o All information will be kept private and treated with respect

    o We offer the most competitive programs, products, technology and service in the

    industry today

    Certified Pre-Approval Guarantee: Closing Loans On Time, Under

    Budget, With No Surprises

    Fairway issues and guarantees the accuracy of Fairway Certified pre-approvals as long as:

    o Your personal financial qualifications stay the same or improve1

    o The agreed upon loan parameters stay the same or improve2

    o The property meets all necessary loan requirements3

    If we are wrong we will:

    o Reimburse documented short-term moving, relocating and/or storage expenses u

    to a maximum of $1500

    o Reimburse any documented lost home inspection or appraisal expenses up to $10

    o Reimburse any forfeited earnest money expenses up to $5,000

    The Closing and Beyond

    o The HUD will be available to review well in advance of the closingo Funds will always be at the table ahead of the closing

    o All parties will have the opportunity to review documents in advance

    o Scheduling of closings will ensure maximum convenience for all parties involved

    1Personal financial qualifications includes but is not limited to employment, income, assets, credit scores, and debt.

    2Agreed upon loan parameters includes, but is not limited to maximum loan amount, maximum total monthly payment, maximum interest rate, interest rate mark

    conditions, down payment requirements, property insurance requirements and mortgage insurance requirements.3 Necessary loan requirements of the property includes but is not limited to, appraised value, insurability, property conditi on, inspection condition, legal title condit

    HOA conditions and housing project conditions.

    Our Promise to the Real

    Estate Community

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    Borrower: SS# Date of Birth

    Current Street Address


    Rent/Own No. of Years Current PaymentP& I Taxes Ins.

    Purchase Price Amount you owe

    Tel: No. Home Work ______ email:__________________________ cell________________

    Current Employer position:

    Address of Employer

    Total Annual Salary How Long at company Are you Self Employed?

    Co-Borrower Name SS# Date of Birth

    Current Street Address


    Rent/Own No. of Years Current Payment

    Tel. No. Home Work email:_________________________ cell: _____________________

    Current Employer position:

    Address of Employer

    Total Annual Salary How Long at Company Are you Self Employed?

    Source of Down Payment - Asset Informationsavings/checking/money market/stocks/retirement/gift funds

    Institution Name Balance

    Institution Name Balance

    Institution Name ___________________________________________________ Balance _________________________________________

    Institution Name ___________________________________________________ Balance _________________________________________


    Borrower Date Co-Borrower Date

    I/we authorize lender to obtain any and all information and documents that are needed for this First Step mortgage Pre-Approval. Information includeis not limited to; employment and income history, credit and debt history and bank, credit union, investment institutions and similar account balances.

    First Step Pre-Approval ApplicationComplete this application and fax to Fairway Independent

    Mortgage (NMLS # 2289) to receive your mortgage PreApproval. Your new home could be a fax or call away!

    18 Crawford St. Needham, MA. 02494Fax to: 781.719.4684

    Have you had a property foreclosedupon or given title or deed in lieu therefore in the last 7 years?

    Are you presently delinquent or in default on any Federal debt or any other loan,mortgage, financial obligations, bond, or loan guarantee?

    Are you a U.S. Citizen?

    Are you a permanent resident alien?

    Do you intend to occupy the property as your primary residence?

    Have you had ownership interest in a property in the last 3 years?

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

    YES____ NO _____

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    The Six Donts:What not to do when applying for a loan

    The following is a list of things to avoid when youare seeking to obtain home financing.1. Dont buy or lease an auto

    Lenders look carefully at your debt-to-income ratio. A

    large payment such as a car lease or purchase can greatly

    impact those ratios and prevent you from qualifying for a

    home loan.

    2. Dont move assets from one bank account to another.These transfers show up as new deposits and complicate the application process, as you must then

    disclose and document the source of funds for each new account. We can verify each account as itcurrently exists, and you can consolidate your accounts later if you wish.

    3. Dont change jobs.A new job may involve a probation period, which must be satisfied before income from the new job

    can be considered

    4. Dont buy new furniture or major appliances

    If the new purchases increase the amount of debt you are responsible for on a monthly basis, there

    the possibility this may disqualify you from getting the loan, or cut down on the available funds you

    need to meet closing costs.

    5. Dont attempt to consolidate bills before speaking with us.We can advise you if it is really necessary to do this.

    6. Dont pack or ship information needed for the loan application.Important paperwork such as W-2 forms, divorce decrees and tax returns should not be sent with

    your household goods. Duplicate copies take weeks to obtain and could stall the closing date on yo


    Licensing Information:

    18 Crawford St. Needham MA, 02494/ 781-719-4664/ Fairwayne.com

    NMLS # 2289, Branch license # 15751 / Massachusetts Lender License # MC284 Massachusetts Broker License # MC2840 / Connecticut LenderLicense # ML-BCH-15751 / New Hampshire Mortgage Banker Branch License # 15041-MB-BCH /

    Rhode Island Lender Branch Certificate # 20052004LLB 01 /

    Rhode Island Loan Broker Branch Certificate # 20052005LB B01 / EQUAL HOUSING LENDER/LICENSED HOUSING LENDER


    The 6 Donts:

    What not to do when applying for a loan

  • 7/28/2019 Fairway Mortgage Documents


  • 7/28/2019 Fairway Mortgage Documents